Property prices in New Zealand recorded their lowest annual increase since October 2012 last month, with the Auckland market still responsible for driving national growth.
Quotable Value’s (QV) latest residential property index rose 5.9 per cent in the year to 31st October, compared with an annual rate of 6.4 percent in September. It is the tenth consecutive month that New Zealand has recorded slowing property price growth.
However, at NZ$484,307, the national average price of a Kiwi property is still 16.9 per cent above the market’s previous peak seen in late 2007.
The country’s biggest city, Auckland, led national house price gains, with values increasing by 9.2 per cent in the year to October, although even this was down from the 10.3 per cent rise seen in the year to September.
If you are looking into emigrating to NZ, with a view to one day buying a home in the country, than given the still rising prices in cities like Auckland –by far the country’s most popular immigrant destination – then it is arguably more essential than ever to make sure you get the best currency exchange rate possible with which to start your new life.
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.
The Pound-New Zealand Dollar exchange rate has been up and down in the past three months. For example back on 10th September, when the exchange rate was at its lowest, £1 would have purchased you NZ$1.950, while by the 30th September, when the rate was at its three-month peak, you would have received NZ$2.092. If you were exchanging £150,000 – say from the sale of your UK home – then this would equate to a huge difference of NZ$21,300 in just 20 days.
Yesterday you would have received an exchange rate of £1=NZ$2.065. This equates to NZ$17,250 more than you would have received on 10th September, but NZ$4,050 less than you would have got on 30th September.
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 6th November 2014