House Hunting in New Zealand

Chris Farnell’s guide to finding a house in New Zealand.

By Chris Farnell

So you’ve decided that New Zealand is the place for you, and why wouldn’t you? It’s a great place. But where exactly are you going to live? I don’t mean which city, I mean what building are you actually going to live in?

House hunting isn’t the most relaxing pass-time even if you’re only moving a few streets away, so it’s understandable if you find the idea of moving to a different hemisphere a bit on the daunting side. But fear not, because Australia and New Zealand Outlook is here to help you out with some hints, tips, and an overview of what you can expect to get your money.

The Market

This is an excellent time to get in on the New Zealand housing market. Like pretty much everyone else, New Zealand saw house prices hit hard by the recession, but they are just recently starting to recover, and house prices are set to rise. As President of the Real Estate Institute of New Zealand says, "Despite an abundance of good listings at present, we are still seeing prices going up as a result of strong demand from genuine home buyers."

As of now the median price for properties is in the NZ$475,500 range, and are expected to rise steadily but gradually over the next few months. Meanwhile, mortgage interest rates are hovering around the 5.59 percent to 5.99 percent range for floating rates, while fixed rates are holding at between 5.4 percent and 7.75 percent, depending on the agreed term of the mortgage.

How to Look

When you start looking for a new home in New Zealand, the first thing you need to do is draw up a realistic budget- work out what you can afford to spend and how much you can reasonably expect from lenders. This means paying close attention to market trends so that you can make realistic estimates over price.

This should be a no-brainer, but you’d surprised how many people make this mistake – visit potential properties in person. You can’t rely on online photographs to tell you everything you need to know about a property, and it’s only once you’re in the house that you’ll know if you can imagine spending your life there.

At the same time, don’t focus just on the house. “Location, location, location” is a saying among property experts for a reason. Be sure to check out local amenities, what the rest of the neighbourhood is like, make sure you’re living close to some good schools and have a good local!

It’s also important to be open-minded. When you start house hunting you’re obviously going to have an idea of the sort of place you’re looking for, but don’t get married to that idea. You probably won’t find a house that exactly matches the picture in your head, but by being a bit more flexible you might end up finding some pleasant surprises.

Finally, once you’ve found a place that measures up, move quickly. You want to get an offer in as soon as you can, as any delays give other buyers a chance to swoop in or allow the vender to change their mind.

NZ$350,000- For The First-Timers

Pics: http://www.bayleys.co.nz/361184

2/27 Lagoon Drive, Panmure

A good place to start off your first tentative steps onto the New Zealand property market, this three bedroom property is a solidly built modern house with 70 square metres of back garden and a roomy kitchen/living room space for entertaining. As well as being a great looking house, this property also boasts a location with friendly neighbours and convenient shops nearby.

NZ$489,000- A Family Home

Pics: http://www.realestate.co.nz/1559219

390 Rimu South Road, Invercargill Surrounds

This four bedroom, two bathroom bungalow would make a great family home, with airy, spacious looking indoor areas and uninterrupted scenic countryside views outside. With almost five acres, this is a great place for the kids to play, and after the weekend there are school buses leaving from the front gate for both the primary and secondary schools.

NZ$619,000- A Place by the Sea

Pics: http://www.realestate.co.nz/1559015

1/170 Vipond Rd, Stanmore Bay

If you’re moving all the way out to New Zealand, its completely possible that the beaches are the reason you’re doing it. if that’s the case, then this my by right up your street. A family home, close to the beach and with a great view of the sea. The property’s advert also makes a point of saying that it’s driveway is “big enough for a boat” so if you’ve always wanted to take up sailing, this could be the place for you. You won’t find the indoors disappointing either, with large master bedroom with walk-in wardrobe and en-suite, and a second living room whether the kids can entertain themselves when they aren’t out on the beach.

NZ$1,375,000- Classic City Living

Pics: http://www.nz.open2view.com/Property/235354

Te Aro, Wellington

If you’ve got a bit of extra cash to throw around, you could do worse than somewhere like this gorgeous city penthouse. Here you’ll find three double bedrooms- including a master bedroom that features both an en-suite and a walk-in wardrobe. Go into the kitchen and you’ll see it’s got all the mod-cons, with a coffee machine, steam and microwave combination oven as well as traditional gas cooking. Perhaps best of all however, is the spacious loft that opens out onto a deck that’s just perfect for rooftop barbecues.

Image: Thinkstock

Issue 8, Australia & New Zealand Outlook