{"id":41070,"date":"2017-01-18T18:48:15","date_gmt":"2017-01-18T11:48:15","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/flipping-crazy-two-auckland-houses-get-sold-five-times-in-four-days\/"},"modified":"2017-01-18T18:53:27","modified_gmt":"2017-01-18T11:53:27","slug":"flipping-crazy-two-auckland-houses-get-sold-five-times-in-four-days","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/flipping-crazy-two-auckland-houses-get-sold-five-times-in-four-days\/","title":{"rendered":"Flipping crazy! Two Auckland houses get sold five times in four days"},"content":{"rendered":"


\nOne of the properties was sold twice in a day
\nAuckland\u2019s financial centre skyline at dusk. ChameleonsEye\/Shutterstock
\nIn case you were in any doubt of the red-hotness of Auckland property, have a chew on this.
\nTwo houses in the city were turned over five times in a mere four days, with one of the properties selling twice in one day, reported The New Zealand Herald.
\nRegulators are currently investigating the properties, which sit adjacent to one another in the suburb of Mangere Bridge in the southern part of the city. \u201cThe natural question is if the property has been bought and sold a couple of times and the price keeps on going up, was the initial vendor looked after?\u201d said Real Estate Agents Authority chief executive Kevin Lampen-Smith. \u201cAny time transactions take place very quickly you have increased concern to make sure all parties are fully informed of the decisions they are making.\u201d
\nThe transactions, which took place in August, solidify Auckland\u2019s reputation as one of the world\u2019s hottest residential property markets. Flipping is an increasingly common occurrence in the city, where 1,831 properties were sold at least twice last year \u2014 74 within a single month \u2014 according to real estate analytics firm CoreLogic.
\nMore: New Zealand real estate is hot, but not everyone is happy about it
\nOne of the Mangere Bridge properties is a chandelier-laden Victorian homestead with historic ties to Kiwi retailer George Courts. Located on a 1,897-square-metre lot along Coronation Road, the grandiose villa was first sold in February for NZD1.45m (USD1m) to investor Hua (Danny) Wu. It then passed hands in August to one Sha Liu, who then sold it four days later to property developer Treasure Plus.
\nBy that time, the property had been worth NZD2.8 million.
\nTreasure Plus also acquired the bungalow next door from the same seller, on the same day. The property, which sits on an 802-sqm lot, had been sold twice on 4 August, first by Jessie and Ben Church to one Jia Liu, who then turned it over to Sha Liu.
\nTreasure Plus disavowed any knowledge of the previous transactions, but it announced plans to demolish the structures. Eighteen townhouses or similarly high-density buildings will be built in their stead.
\nAuckland was dubbed the world\u2019s fastest growing luxury housing market in a 2016 survey by Christie\u2019s International Real Estate. A Q2 2016 report from Chinese real estate portal Juwai.com also proclaimed New Zealand as having the world\u2019s fastest growing residential prices.
\nRead next: Why Asian buyers are eyeing New Zealand\u2019s beachfront bounty
\n
\nSource : property-report.com
\nRead more…Flipping crazy! Two Auckland houses get sold five times in four days<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

One of the properties was sold twice in a day Auckland\u2019s financial centre skyline at...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-41070","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-aGq","jetpack-related-posts":[{"id":52345,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/making-double-auckland-properties-selling-for-twice-the-cv\/","url_meta":{"origin":41070,"position":0},"title":"Making Double: Auckland properties selling for twice the CV","date":"April 20, 2017","format":false,"excerpt":"\r In Auckland this year homes have sold, on average, at a price 1.4 times greater than the capital valuation - at least four sold for more than double.Homes.co.nz data given to the Herald showed the top four properties with the...\r \r Source : nzherald.co.nz\/Property\r Read more...Making Double: Auckland properties\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40007,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/auckland-house-sales-prices-fall-in-december-on-glut-of-available-properties\/","url_meta":{"origin":41070,"position":1},"title":"Auckland house sales, prices fall in December on glut of available properties","date":"January 9, 2017","format":false,"excerpt":"\r Auckland house sales and prices fell last month as the country's biggest city continued to enjoy a glut of properties on the block, realtor Barfoot & Thompson says. 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