House Prices

Aussies moving on NZ property

Amid concerns that the Australian property market is overvalued, investors there are increasingly turning to New Zealand, to take advantage of its more favourable tax regime.

Sunday, December 11th 2005

New Zealand agents and market participants say there has been a surge of Australian interest in New Zealand property, particularly in the bigger cities, as well as holiday destinations.

"The apartment market in Auckland has been pretty closely followed by the Australians, as has Queenstown," says Howard Morley, president of the Real Estate Institute of New Zealand.

Mr Morley said some New Zealand developers were so keen to attract Australian investors they were marketing exclusively in Sydney and Melbourne.

The heightened interest in New Zealand property comes as an Organisation for Economic Cooperation and Development report found Australian property to be the most overvalued in the western world, in relation to rents.

Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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