Australian buyers keen on Kiwi apartments

Chinese investors have been a hot topic over recent months. Auckland real estate agents suggested they were pushing up the prices of houses and in many cases, were not planning to live in them.

Several political parties have called for restrictions on foreign property investors in the New Zealand market.

But Whitburn said the Australian buyers seemed to be operating under the radar.

He said Australians were particularly strong in the Auckland apartment market.

“They think anything over 5% is a good gross yield and if it’s close to beaches, they think that’s got to be good buying.”