SUMMER IN NEW ZEALAND MEANS SUN,HOLIDAYS, SWIMMING AT THE BEACHES OR PICTURESQUE LAKES, BUSHWALKING (NO SNAKES OR DEADLY SPIDERS), BBQs at the beach or at your house and generally a very relaxing time for everyone. It also means daylight saving with nice long, warm, days.
NEW ZEALAND IS A GREAT COUNTRY RIGHT NOW. In 2021 New Zealanders and Australians have experienced "lockdown" but are still very lucky residing "Downunder" isolated from the rest of the world, enduring far less COVID cases than most of the world. New Zealand has reverted to a 3 Level Traffic Light Zone.With the 90% target of "double jabs" (87% as of 1 December) with your personal COVID digital Pass there will be hopefully events, concerts, holidays and attend work again throughout all of New Zealand. Many New Zealanders are returning to New Zealand (in "managed isolation") realising what they have missed. New Zealand is great for lifestyle, jobs, education and property (Auckland named "No. 1 Most Liveable City In The World" in June 2021 - see attachment).
FINANCIAL 2021 AND 2022. Fixed Interest Rates were "rock bottom" mid 2021 (e.g. 2.39% 1 year) but since then rate increases have been the fastest 6 month increase in history (average 2% increase across the board). Also alot of expected tightening of monetary policy plus new and revised financial laws in 2021. As inflation hit 4.9% in November plus the lowest recorded unemployment rate 3.4% and strong economy, the economists predict slower rising rates and softening of housing sector in 2022..
THE BUYERS AND DAYS TO SELL: First Home Buyers increased 2021 (particularly with "New Builds"), but recent tightening by Reserve Bank restricting banks to only 10% total lending over 80% finance has changed them. Investors have subdued since Government policy in March 2021 on lending (Max 60% except New Builds) and less tax incentives. There is still "low listings" of property throughout New Zealand, so demand continues. Days to sell all over New Zealand in November 34 days (REINZ Real Estate Institute NZ).
PROPERTY MARKET - As at 1 December 2021 (nearly all NZ locations recorded double-digit annual increases) New Zealand average median house increased in the past 12 months 28.4% to $987,401, Auckland Region increased +25.7% to $1,402,845, Tauranga increased 35.8% to $1,114,481, Wellington Region increased 33.5% to $1,114,979, Nelson increased 24.2% to $846,680, Christchurch increased 35.5% to $719,493, Queenstown Lakes District increased 33.3% to $1,587,469, Dunedin increased 21.8% to $696,009, Invercargill increased 24.6% $461,111. The strongest NZ performer was Carterton (near Masterton) increased 42.2% to $737,497 (Core Logic Stats 1 December 2021).
FIRST HOME BUYERS - access to your deposit from your Kiwisaver Superannuation. Refer to Housing New Zealand website to see if you qualify www.hnzc.co.nz. There are Regional/Location purchase price and personal income limits.
REMEMBER ALL NONRESIDENTS MUST HAVE A NZ TAX FILE NUMBER BEFORE THEY SETTLE ANY NEW ZEALAND PROPERTY and must provide their overseas tax file number.,
NONRESIDENTS PURCHASING PROPERTY IN NZ - There is a ban of nonresidents purchasing "existing residential properties" - with the exception of New Zealand, Australian and Singaporean citizens. Nonresidents purchasing new properties are acceptable.
RENTAL AND VALUES: When you look at such a diversified value in New Zealand and look at rental return on the Government website (outlined on this website "Useful Links"), you will see the capital growth and/or rental returns that suit you pertaining to the New Zealand location you wish to purchase.
REMEMBER THERE IS NO STAMP DUTY AND NO LAND TAX in New Zealand. You normally require your deposit for the property plus approximately NZ$1,500 legals to NZ solicitor to acquire a New Zealand property.
REFER TO MY "CASE STUDIES"on my website for many New Zealand residents, Ex Pats moving back to New Zealand, Nonresidents particularly Australians and Kiwis residing in Australia and other countries all purchasing in NZ.
Contact Mary from New Zealand Mortgage Solutions Pty Ltd for a preapproval from a choice of 21 leading New Zealand banks/lenders.