The latest monthly QV House Price Index shows New Zealand residential property values for July increased 5.1 per cent over the past year.
However, property values dropped 0.7 per cent over the past three months.
The average value of a property in New Zealand is now NZ$673,797.
“We’re seeing a shift in the market across many regions, with most of the market activity and value growth taking place at the ‘lower-end’ of the market where values are more affordable,” said QV General Manager, David Nagel.
“First home buyer activity remains relatively strong across most of New Zealand although we’re observing a drop in activity in some areas over the past few months. This could possibly be due to the fact that some buyers are holding off purchasing, hoping they’ll attain a KiwiBuild property in the ballot.
“We’ll be closely monitoring the impact of the government’s initiative over the coming months although its full impact won’t be felt for some time yet.”
All this means that price growth in New Zealand’s three largest cities – Auckland, Wellington and Christchurch – have slowed considerably in the last three months; although property values are still higher than they were a year ago.
The largest price growth in the last year was recorded in Napier City, where prices rose 14.2 per cent in the past 12 months and by 2.7 per cent in the last three months.
With property prices in New Zealand still high, 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 change Pounds into 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.
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
Article published 2nd August 2018