Is New Zealand property more affordable than Australian property?

Discussion in 'Property in Australasia' started by totallyproperty, Apr 9, 2014.

  1. totallyproperty

    totallyproperty Administrator Staff Member

    Despite the fact that many people see Australia and New Zealand as "neighbours" there is an enormous gap between the countries in terms of location and economic prosperity. However, there is no doubt that the New Zealand economy is well-positioned for the future, which prompts the question does New Zealand property offer better value than Australian real estate?
     
  2. Florent

    Florent New Member

    Australian real estate is actually cheaper than in New Zealand.
    A report from May 2014 shows that all Commonwealth nations, including New Zealand and Australia, have the most expensive properties in the world.
    According to this report, New Zealand comes 4th in the most expensive houses scale, just before Australia. Belgian houses seem to be the least affordable, while 2nd and 3rd position was Norway and Canada.
     
  3. In terms of property price in general, New Zealand and Australia are almost the same. Prices also vary according to many factors. But I agree that New Zealand is booming. Let's see what happens few years from now.
     
  4. bruynjustin

    bruynjustin New Member

    Australia vs New Zealand

    Choosing between Australia or New Zealand can be a difficult decision. Both countries offer a similar lifestyle but from an investment perspective there are some differences like:

    1) In New Zealand, a non-resident can purchase property without restriction unless it is considered to be “sensitive land”. Here sensitive land means land such as farmland and non-urban land greater than 5 hectares.

    2) On other hand in New Zealand we have an advantage that stamp duty is not levied on the purchase of a property so we can save thousands of dollars.

    3) On other hand, there are lots of hidden costs involved in Australia like additional fees, stamp duty and land transfer charges etc.

    Conclusion: Property in New Zealand is cheaper than in Australia.
    Properties in New Zealand offer better value for money.
     
  5. totallyproperty

    totallyproperty Administrator Staff Member

    I find this subject very interesting because many people automatically assume the New Zealand is the poor cousin of Australia. From what I read above this is not necessarily the case - however, the economy of Australia always seems to grab the headlines ahead of New Zealand.

    Has anyone bought property in New Zealand? I would be interested to hear from you.

    Mark
     
  6. Meaning

    Meaning New Member

    How about the rentals between Australia and New Zealand? any ideas?
     
  7. Longterminvestor

    Longterminvestor Active Member

    I would also be interested to know the rental figures for Australia and New Zealand. I would assume that Australian rental yields are lower than their New Zealand counterparts but I may be wrong in this assumption. Again, like many people have suggested, viewing New Zealand as the poor cousin of Australia is a very easy trap to fall into one which is not necessarily correct!
     
  8. Lincoln Boland

    Lincoln Boland New Member

    Hello,

    It is obvious that there are better opportunities in the property market of New Zealand.
     
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