New Zealand national house price growth slowed once again in November, although the market is still showing no signs of slowing in the country’s biggest region, Auckland.
According to the latest Quotable Value residential property index, house prices in NZ rose by 5.1 per cent year-on-year to the end of November, having risen by 5.9 per cent in the year to the end of October.
However, house prices in Auckland were 9.3 per cent higher in November compared to year earlier; they had risen by 9.2 per cent in the year to October.
In spite of the slowing national price growth, though, the QV index is still 16.7 per cent higher than it was at the market’s previous peak in late 2007. The average price of a house in New Zealand is now NZ$483,424. The highest regional prices are unsurprisingly found in Auckland (NZ$748,955), while the lowest are in Wanganui (NZ$181,898).
No matter where in NZ you are intending to settle when you emigrate, one thing that will help you make your money go further when purchasing a property there is by ensuring you get the best exchange rate possible.
When exchanging large lump sums, even only slight fluctuations in the currency exchange markets can have a huge impact on the money you’ll have available to start your new life.
To prove how timing can be key, in the past three months alone, when the exchange rate was at its highest point, £1 would have purchased you NZ$2.092 (30th September 2014). Therefore, if you were exchanging £150,000 – say from the sale of your UK home – then you would have received NZ$313,800.
Yesterday, however, you would have received an exchange rate of £1=NZ$1.997. On an exchange of £150,000 this would have given you NZ$299,550 – NZ$14,250 less than you would have got on 30th September. Timing is key.
Fortunately, you don’t have to be a financial whizz kid to make sure you get the best exchange rate – that’s what companies like Halo Financial are there for.
Foreign exchange companies understand 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, take advantage of positive fluctuations in the markets and make sure you start your new life with the most purchasing power possible, visit www.halofinancial.com
Article published 4th December 2014