From $335,000 to $590,000 – Home sells 5 times in 9 months

  • Rampant speculators are cashing in big on Auckland’s property market, with one house sold five times in just nine months.

The humble three-bedroom home in Papakura was repeatedly flipped between February and November last year, its price spiralling from $335,000 to $590,000 – a capital gain of $870 a day.

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Outside their mothers old house in Papakura, sisters Dawn Sillick, left, with her daughter Elyshia, centre, and Mary Edmonds, right. Photo Brett Phibbs

Outside their mothers old house in Papakura, sisters Dawn Sillick, left, with her daughter Elyshia, centre, and Mary Edmonds, right. Photo / Brett Phibbs