Property for Sale in New Zealand
With is temperate climate, wide range of outdoor activities and breathtaking natural landscapes, New Zealand is a firm favorite with tourists and migrants. The country is sparsely populated allowing for spacious living, although 80% of the nation's population lives in urban centres.
Those seeking to buy property in New Zealand enjoy low barriers to entry and favourable exchange rates. Property prices are also relatively undervalued compared to its closest neighbour Australia. City apartments start at around £70,000 but in the suburbs, a four bedroom suburban home can be bought for £140,000.An estate agent will also know each district and its zonings intimately. They must be familiar with changes in land use including probable future changes based on apparent trends, and the laws and by-laws relating to property.
Most home buyers are asked to pay a 10% deposit against a potential house purchase, which ensures that “time wasters” are not encouraged to become involved in the process. However, bearing in mind that not only fixed price, but auctions are popular in New Zealand, this is not always possible.
With over three quarters of New Zealand residents owning their own homes the entire property buying process in the country is sophisticated and geared to smooth running as are the mortgage arrangement processes.
Because Auckland is such a prosperous city it has enjoyed a very healthy 12% rise in property prices over the past couple of years. This has been fuelled by the fact that the city is growing economically and attracting more inward migration this rise in property prices is set to continue at least for the short term.
Christchurch property prices are a lot cheaper on the whole and have slowed down from their peak at the turn of the Millennium, they are now rising steadily as demand for property in Christchurch remains steady. The majority of those attracted to this city are drawn to its location and proximity to beaches, vineyards etc., and because it is quite simply one of the nicest locations in New Zealand in which to live.
Wellington is New Zealand’s capital city and as a result there is a lot of business and commercial activity in the city that attracts workers from across the country and beyond. Property in the city is desirable, rental accommodation is tricky to source and on the whole the real estate market in Wellington is strong with international investor confidence at an all time high.
Although it is not a legal requirement, many house buyers prefer to employ a lawyer to assist with their purchase. A lawyer will guide you through the sales process and protect your interests. Their services generally include:
- Helping you to negotiate the purchase and price with the owners
- A 'title search' to make sure that there are no legal problems
- Checking the contract
- Advising you if there are any factors like tax that may affect you
- Drawing up the documents to transfer ownership
- Arranging the settlement
- Letting you know your rights.
