Flipping not what it used to be

There is no end in sight to the housing affordability issues plaguing Auckland and, as a result, fingers continue to point at investors as being a big part of the problem.

One of the accusations levelled at investors is that they routinely engage in the flipping of properties to make a quick profit and that this practice has led to the escalation of house prices.

A recent example of this was the coverage of a case where two neighbouring South Auckland properties were sold five times in four days.

However, new CoreLogic data shows that the prevalence of flipping in today’s market is well down on its prevalence in past years and property booms.