Thirteen of New Zealand’s fifteen regions hit record average property asking prices in December, according to the latest Trade Me Property Price Index.
The national average asking price rose 3.4 per cent on December 2016 and was up 0.2 per cent on November to NZ$640,450.
According to the Trade Me Property data, the Wellington region was leading the trend with NZ$64,600 added to the average asking price since December 2016. “The Wellington property market gained momentum in 2017 and in December the average asking price reached a new record at NZ$568,100, up 12.8 per cent on last year,” said Head of Trade Me Property Nigel Jeffries.
Otago was another region to break records, with average asking prices there now NZ$525,300. Over 13 per cent higher than they had been in December 2016.
“On the whole, the New Zealand property market ended 2017 with a bang,” Jeffries explained. “Gisborne and the West Coast were the only regions that didn’t reach record asking prices in December.”
If you’re planning on emigrating to New Zealand in the near future, and therefore planning to buy a Kiwi property, then it is essential to get the best possible deal on your currency deal.
When exchanging large lump sums for emigration purposes, only a small change in the market can have a significant impact on the amount of money you could be potentially starting your new life with.
For example, three months ago, back in mid-October, £1 would have purchased you NZ$1.847. By early December, however, the rate had reached £1=NZ$1.968. On an exchange of a substantial amount, say from the sale of your UK property prior to emigrating, such a fall has a massive impact on the amount of money you’ll have to start your new life. For example, if exchanging £150,000 the difference in New Zealand Dollars received would have been NZ$18,150. In just a matter of months.
To illustrate how quickly the rates can change, by yesterday the rate had fallen back to £1=1.884 – so higher than October, but a fair bit lower than the recent peak in December.
Currency specialists Halo Financial understands why the exchange rates are moving and just what impact this has on your currency transaction. What’s more, they can also explain how to make your money go further and give you a range options on exactly when you wish to exchange, and how much you should exchange at a time.
To find out how you can make sure you can get the best exchange rate possible, and take advantage of positive fluctuations in the markets, visit www.halofinancial.com
Average NZ property asking prices (Dec 2017 – +/- on Dec 2016)
Northland – NZ$531,100 (+1.8%)
Auckland – NZ$941,850 (+3.6%)
Waikato – NZ$543,450 (+6.2%)
Bay of Plenty – NZ$607,400 (+7.6%)
Gisborne – NZ$308,200 (-13%)
Hawke’s Bay – NZ$510,550 (+12.8%)
Taranaki – NZ$396,900 (+5.8%)
Wanganui – NZ$327,550 (+12.2%)
Wellington – $568,100 (+12.8%)
Nelson – NZ$578,000 (+5.4%)
Marlborough – $469,950 (+6.8%)
West Coast – NZ$262,550 (-3.1%)
Canterbury –NZ$478,700 (+2.4%)
Otago – NZ$525,300 (+13.3%)
Southland – NZ$292,350 (+13.5%)
Article published 11th January 2018