Property prices in New Zealand are continuing to rise, with the latest Quotable Value figures showing that prices nationwide increased by 5.7 per cent in the year to January 2015.
The national average property price in New Zealand now stands at NZ$494,083.
As has been the case for much of the past year, the national price growth is being driven by a booming Auckland market, with prices in New Zealand’s most popular region having grown by 11.6 per cent in the past 12 months.
“I would definitely say that we are seeing a continued acceleration of values in Auckland,” stated QV spokesperson Andrea Rush. “And while yes, the other main cities and main provincial centres are also showing increases, they are way more moderate.”
Away from Auckland, the Queenstown-Lakes region was the only other area to see above national average price growth (6.7 per cent), while prices in Tauranga grew by 4 per cent. Gisborne recorded the biggest price declines (-4.5 per cent).
Nationally, property prices are now 19 per cent higher than they were at the previous peak in late 2007, while prices in Auckland are 41.9 per cent higher.
Given New Zealand’s increasing property prices, it’s arguably more important than ever before for those planning to make a new life for themselves in the country to take advantage of positive exchange rate fluctuations.
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 (on 4th February), then £1 would have purchased you NZ$2.084. Therefore, if you were exchanging £150,000 – say from the sale of your UK home – then you would have received NZ$312,600.
However, when the rate was at its three-month low (13th January) you would have received an exchange rate of £1=NZ$1.938. On an exchange of £150,000 this would have given you NZ$290,700 – NZ$21,900 less than you would have received just a few weeks later. 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