Arnold
CibbuanoInvesting in New Zealand Property
July 5th 2006 00:54
Following from yesterday’s post, today I’ll look at some of the more practical aspects of investing in property in New Zealand.
Financing:
Obtaining a mortgage for purchasing property in New Zealand is a little more tricky than gaining a mortgage for an Australian property purchase, however, the additional effort in finding a lender is not too difficult. Several lenders within Australia will provide financing for offshore investments in New Zealand. AMP and ANZ are such establishments. Another service to try is the The Mortgage Store. The Mortgage Store is one of the few Australian mortgage broker's who can write loans for New Zealand real estate purchases. Not only that, but they can use alliances in New Zealand to help find the best loan for you.
Hot Areas:
What are some of the boom areas in New Zealand? For the bigger city seekers, the Queenstown, greater Auckland and Central Otago Lakes region are hot residential investment spots. There is also growth in the sea change areas where people like to escape the big city lifestyle and retire in tranquil environments. Look for coastal areas with close proximity to services, utilities and shops. Rural properties are also good investments in terms of the leisure and tourism industries.
According to a report from property valuer QV released in November 2005, property values in Hamilton increased 27.7 per cent over the 12 months to November. Wanganui is another hot spot demonstrating property value increases of 38.3 per cent, while Whangarei (34.5 per cent), Gisborne (28.4 per cent) and Rotorua (27.7 per cent) are closely following the leaders of the pack. The QV report claims that there is “a trend of areas with an availability of affordable residential property experiencing the highest value growth levels”
Searching for Property:
Looking for properties in New Zealand is particularly easy. Many of the larger familiar real estate agents in Australia have branches in New Zealand. RealEstate.com.au not only lists properties in Australia, but also in New Zealand and other international areas. Another online website to browse is AllRealEstate.co.nz which is the New Zealand affiliate of RealEstate.com.au.
Financing:
Obtaining a mortgage for purchasing property in New Zealand is a little more tricky than gaining a mortgage for an Australian property purchase, however, the additional effort in finding a lender is not too difficult. Several lenders within Australia will provide financing for offshore investments in New Zealand. AMP and ANZ are such establishments. Another service to try is the The Mortgage Store. The Mortgage Store is one of the few Australian mortgage broker's who can write loans for New Zealand real estate purchases. Not only that, but they can use alliances in New Zealand to help find the best loan for you.
Hot Areas:
What are some of the boom areas in New Zealand? For the bigger city seekers, the Queenstown, greater Auckland and Central Otago Lakes region are hot residential investment spots. There is also growth in the sea change areas where people like to escape the big city lifestyle and retire in tranquil environments. Look for coastal areas with close proximity to services, utilities and shops. Rural properties are also good investments in terms of the leisure and tourism industries.
According to a report from property valuer QV released in November 2005, property values in Hamilton increased 27.7 per cent over the 12 months to November. Wanganui is another hot spot demonstrating property value increases of 38.3 per cent, while Whangarei (34.5 per cent), Gisborne (28.4 per cent) and Rotorua (27.7 per cent) are closely following the leaders of the pack. The QV report claims that there is “a trend of areas with an availability of affordable residential property experiencing the highest value growth levels”
Searching for Property:
Looking for properties in New Zealand is particularly easy. Many of the larger familiar real estate agents in Australia have branches in New Zealand. RealEstate.com.au not only lists properties in Australia, but also in New Zealand and other international areas. Another online website to browse is AllRealEstate.co.nz which is the New Zealand affiliate of RealEstate.com.au.
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