Photo: RNZ / Dom Thomas
One of the country's most prominent buyers' agencies has complained to the Real Estate Authority about a rise in "property flippers" making six-figures from unwitting vendors.
Earlier, Cotality told RNZ that the number of contemporaneous sales had lifted significantly last year after a sharp fall in 2023.
"There was a lift in these types of transactions last year, almost double 2024, and even more than what we saw through the Covid boom times," head of research Nick Goodall said.
In a contemporaneous settlement, a property flipper often makes an offer with a long settlement period, and then finds another buyer to purchase the
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