New Zealand In Hot Demand

New ZealandNew Zealand as a place to reside has been topping the wish list of Britons for years and now their close allies, the Americans, also view our fair land as a perfect place to call home.

We have known our country is the best in the world and we’ve enjoyed keeping our little secret – well secret.  However it is no longer the best kept secret.  The Americans are coming.  Over the past couple of years we’ve seen a big rise in net migration and now with ‘Brexit’ and the possibility of a Trump presidency New Zealand is looking even more attractive to everyday Americans according to an article in Huffington Post.

Wellington was voted as on of the most affordable city for ex-pats recently and the beauty of our country has been known for some time.  It’s hard to believe demand for property here and throughout most of New Zealand will drop for some time.  Any move made by RBNZ to dampen demand for property by local property investors will be countered  by the growing number of migrants and offshore buyers.

First home buyers are still likely to be locked out  as property values creep back up again even if they plateau for a short time in a similar fashion when the last round of LVR restrictions were introduced in October 2015.  Arguably first home buyers need to consider brand new house and land deals and older properties that have been renovated by property investors.  These properties are in lower socio economic areas.  The cream of the crop of properties for sale in the sought after ‘grammar zones’ of Auckland and Wellington are now almost exclusively only affordable by migrants and off shore buyers so the secret is well and truly out.

Oct16PMeDM

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