Property values in New Zealand rose significantly in November, having slumped in the previous few months, new figures show.
Property values rose at an annual pace of 6.4 per cent, according to the latest QV house price index. Average values nationwide now stand at NZ$664,698, 60.4 per cent above the previous market peak of late 2007.
In the past three months, average property values in the country have grown by 3.6 per cent.
The growth in this period was driven by stronger growth in Wellington, Dunedin and other regional centres. Wellington region property values rose 9.8 per cent on the year to an average NZ$621,289 while Dunedin prices lifted 13 per cent to NZ$386,326.
While there were still gains in Auckland and Christchurch – the two destinations which had previously driven market growth, the increases were far smaller than they once were. Property prices in Auckland and Christchurch increased by 0.4 and 0.2 per cent respectively in the last three months; although average values in both cities are lower than they were a year ago.
If you are 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-September, would have purchased you NZ$1.816. However, as of yesterday the rate had recovered to reach $1.947. 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$19,650. In just a matter of months.
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
Article published 7th December 2017