Property speculators were some of the bogeymen of New Zealand's most recent housing boom. But what does professional "flipping" look like? Kirsty Johnston and Keith Ng used sales data to track down the country's most prolific property traders, finding they were flipping upwards of 10 houses each every year, making an average $70,000 a sale - sometimes without doing any upgrades to the property.

Vicki Bickerton can recall the day her Papakura home went to auction. It was her son's birthday in June 2015, smack in the middle of Auckland's most recent property boom.

She wanted $460,000 for the house,


'It takes a lot of specialised knowledge'

'It was overwhelming ... I didn't have a choice'

A symptom not a cause

Who are they?

How we did it