Expats face strong competition for NZ housing
Demand for expat housing in New Zealand is rising dramatically. This means that rental prices will continue to increase. This is happening across the country’s north and south islands. Demand is particularly high in Auckland, currently ranking high on a list of the most expensive cities in which to live on the planet.
Property prices are also rising in Christchurch due to a lack of availability. A healthy economy means New Zealand is an attractive destination for foreign skilled workers. Many Kiwi nationals are also returning home from abroad because of better prospects.
House building and demands for infrastructure development is putting pressure on both purchase and rental prices. The rental market in Auckland for expats is becoming increasingly aggressive. Although there are properties available, competition is fierce.
Although expats have traditionally looked for properties in the centre of, or close to the centre of, the city in which they are working, higher prices are encouraging some to look for property in rural areas. Although it may take longer to get to work the advantages include cleaner air, less congestion and better scenery.
Parents may be more limited in their choice of where to live if schools become a factor. In Auckland strict laws mean students need to be living in designated areas if they wish to attend a particular school.
The NZD exchange rates on 11/04/2014 were as follows: GBP NZD = 1.9257, EUR NZD = 1.5981, USD NZD = 1.1509, AUD NZD = 1.0814, CHF NZD = 1.3138, INR NZD = 0.0191, AED NZD = 0.3136, MXN NZD = 0.0882, CAD NZD = 1.0482, ZAR NZD = 0.1097, RUB NZD = 0.0323, . See today's New Zealand Dollar Exchange Rate
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