Bright line test dents flipping

It’s not illegal, but it is contentious - and tales of the profits earned on flipped properties are guaranteed to outrage.

But property industry commentators question how just how prevalent the practice really is.

New data from CoreLogic shows that, in 2016, a total of 466 properties, which is 0.5% of all sales, sold for profit across New Zealand after being held for less than three months

This is a noticeable drop from the average of almost 1,400 properties per year (1.1% of sales) which were sold for profit after being held for under three months, in the five years up to the previous market peak in 2007.