Property "flipping" has flopped in the past two years, as the housing market flattens and people see fewer opportunities to make money from buying and quickly selling houses. Nick Goodall, research head at property information company CoreLogic NZ, has released data showing flipping almost halved from 2015 to 2017. Last year, more than 2100 residential properties throughout New Zealand were held for less than 12 months before being sold for a profit. Asked for the most expensive house "flipped" recently, he named a Royal Oak property. Goodall defined "flipping" as selling twice within a year for a profit, and said it was far more prevalent last decade.

Source: Otago Daily Times February 24, 2018 01:30 UTC