Buying property in New Zealand
As a new migrant you may choose to buy your own home straight away because it’ll help you and your family feel more settled.
However it’s a good idea to take the time to research the market to make sure you get what’s right for you. You’ll want to consider the following:
Proximity to:
- employment
- public transport
- amenities/recreation facilities
- schools
If you want:
- space
- garden
- garaging
If you prefer:
- a low-maintenance home
- something you can develop to your own tastes
Compared to overseas, new migrants find buying a house in New Zealand a quick, straight-forward procedure – there’s no dodgy tricks and no worries about being gazumped! An additional bonus is that there is no such thing as stamp duty in New Zealand.
How do I find a house?
Most houses are bought and sold through a real estate agent. Working in New Zealand recommends that you buy a home through one that is a member of the Real Estate Institute (MREINZ).
Real Estate agents will advertise properties for sale in the newspaper (either in the classifieds or in specific housing sections usually found in the weekend papers), in free property magazines (delivered to mailboxes or found outside real estate offices) or on the internet.
Open Homes
Most properties up for sale will have ‘Open Homes’ – a designated time (usually on a Saturday and Sunday) for potential house buyers to view the house inside and out and also ask the real estate agent any questions.
Times are advertised alongside the house’s advertisement in the paper or property publication.
Sometimes house viewing will be done by ‘appointment only’ – in this situation it is best to contact the real-estate agent to negotiate a time that suits all parties.
What price should I expect to pay for a house?
Property prices vary widely within New Zealand depending on what city you’re looking in, what type of house you’re after, the land size, the neighbourhood and its proximity to schools, amenities and coastline.
Auckland, being New Zealand’s largest metropolitan city, has the highest median house prices where as smaller or more rural towns are considerably cheaper.
Below is a list of average house prices in New Zealand (in NZD):
- Auckland City $525,631
- Hamilton $315,546
- Tauranga $382,145
- Rotorua $242,059
- Napier $332,967
- Wellington City $438,049
- Christchurch $325,801
- Dunedin $254,986
(Note: this is designed to be a rough guide only. The above prices include chattels such as curtains, carpet and light fittings – Figures obtained from Quotable Value Ltd July 2006)