Average house prices for all New Zealand are now $542,277. But in Auckland, where the market increased by 64.1% since 2007, they’re now a whopping $896,676. To buy a freestanding home, banks generally need 20% deposit for a mortgage. In Auckland, that’s a $179,335 deposit – tough for first home buyers!
In New Zealand, it can take as little as three to four weeks to complete a house purchase once you’ve found the place you want. Once a bid is formally accepted, last minute offers can’t be considered, which makes buying here a lot less stressful than it is in some parts of the world.
You can do New Zealand on the cheap, but it means missing out on a lot of great stuff. It’s one of the more important things to know before moving to New Zealand, as you will spend a bit of money in this country! The best time to visit New Zealand may be in the winter season when it’s cheaper!
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Depending on your lifestyle, cost of living can vary widely in New Zealand although is generally cheaper outside of Wellington and Auckland. If you’re moving from London, however, these cities are still likely to be comparatively cheap – they clocked in at 83rd and 61st respectively in the Mercer 2015 Cost of Living Survey, while London was near the top in 12th most expensive position.
Two points. Modern houses are not affordable. Most houses are inherently affordable. modern houses aren’t affordable, people are just willing to go deep into debt nowadays. You can’t "afford something" and "be in debt" at the same time. Debt was o.
Although in many countries it would appear a luxury option, in New Zealand buying a car to travel in is actually a cost effective option. With the mass import of Japanese cars you can pick up a reasonable runner for around NZ$1800-$2300.
Another Auckland home has been priced to sell for under $500,000, as a real estate agent says sellers need to adjust their expectations while the region’s housing market cools. The brick-and-tile house in Duke St, in the south auckland suburb of Papakura, boasts two bedrooms, a detached garage and and an open-plan living, dining and kitchen area.
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