Is now the right time to migrant Down Under?

After what seems like a lifetime, the NZ dollar is having a shake around. Finally the New Zealand property market is showing clear signs of falling. This is a welcome relief to British migrants moving to New Zealand and keen to purchase a property.

A recent article in leading NZ newspaper, New Zealand Herald, stated:

“The Auckland property market appears to be “turning” after seven years of constant price rises. Signs the rate of price increase has been slowing have been there for some months but November’s sales data confirms that for the time being at least, Auckland prices have stopped rising. Both the average sales price and the median price in November were down on those for October.”

House prices tend to peak in November and December, but this doesn’t seem to be the case – the average sales price in November at $933,130 (down 1% from October) and the median price at $850,000 (down 1.7% from October). It certainly seems like housing is becoming more affordable.

 

Moving the New Zealand in the next few months?
Make sure you download our “Guide to Buying and Renting in New Zealand”.

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