New figures show that nine out of 19 regions in New Zealand recorded an all-time high property asking price in January, while prices in Auckland remained static.
The figures, released by Realestate.co.nz reveal that the national average asking price is currently an all-time high of NZ$624,709.
Real-time market statistics from Realestate.co.nz show that the Central Otago/Lakes region recorded the biggest average asking price increase (17.6 per cent), followed by Central North Island at 12 per cent, Hawkes Bay at 10.8 per cent and Bay of Plenty at 9.8 per cent.
Other upward movers included Taranaki at 4.8 per cent; Manawatu/Wanganui up 4.7 per cent; Otago up 4.6 per cent and Coromandel up 2.3 per cent.
However, the average asking price in Auckland in January was NZ$943,002 compared with the previous month at NZ$949,898.
With NZ property asking prices at all-time highs in many regions, it is essential that anyone moving to the country starts their new life with the largest amount of NZ Dollars they can.
One simple way you can make a substantial gain is to get the best exchange rate possible when the time comes to changing your Pounds to NZ Dollars.
Put simply, when exchanging large lump sums, only small fluctuations in exchange rates can have a huge impact on how much money you’ll end up with.
For example, imagine you managed to sell your property in the UK three months ago, and had £150,000 to spend. If you had exchanged immediately, then on 10th November you would have received NZ$1.690 for every £1 exchanged – making a total of NZ$253,500. However, if you had waited until early February to make your exchange then you would have received a slightly better rate of £1-=NZ$1.736. While this may not sound a massive change, on an exchange of £150,000 this equates to a gain of NZ$6,900.
Of course, there is no guarantee of choosing the absolute best time to exchange. But taking expert advice from a specialist currency exchange firm like Halo Financial can certainly help.
Foreign exchange companies understand why the exchange rates are moving and just what impact this has on your currency transaction so can give you at least some indication of when the market could move favourably. What’s more, they can also provide you with a range of options on when you should consider exchanging, and how much you should exchange at a time.
To find out how you can make sure you can take advantage of positive fluctuations in the market and exchange your currency at the right time to get the best possible, visit www.halofinancial.com
NZ average asking price by region, January 2017
Central Otago/Lakes – NZ$888,567
Coromandel – NZ$700,352
Bay of Plenty – NZ$592,479
Wellington – NZ$556,807
Central North Island – NZ $413,392
Hawkes Bay – NZ$413,405
Taranaki – NZ$387,594
Otago – NZ$358,897
Manawatu/Wanganui – NZ$310,437
Article published 6th February 2017