NEW ZEALAND
BY ANGIE REDMOND
Investing In
New Zealand
September 2012. Districts which also recorded
strong annual house price rises include Central
Otago Lakes (14.4%), Auckland(8.4%), and Nelson/
Marlborough (8.3%).
There were also modest house price increases in
Canterbury/Westland (5.9%), Wellington (5.3%),
Waikato/ BOP (3.5%), Manawat u / Wanganui
(3.2%), Taranaki (2.4%), and Otago (2.2%).
N
ew Zealand is an island country in the
South western Pacific Ocean. The county
geographically compromises two main
landmasses – that of the North and South Islands,
and numerous smaller islands. New Zealand is
situated roughly 1 500 kilometres east of Australia.
With a mild and temperate climate, temperatures
range from 10 degrees Celsius in the south to 16
degrees Celsius in the north.
The northern and north-eastern parts of the South
Island are the sunniest areas in the country.
Residential property prices in New Zealand
have continued to rise in the third quarter of
2012. The national housing median price rose by
6% to NZ$371000 (US$304168) during the year
to September 2012, according to the Real Estate
Institute of New Zealand (REINZ).
Locally, Southland registered the biggest annual house
price increase, with a 17% year-on-year (y-o-y) rise in
26
Offshore Handbook 2013
Only two districts recorded house price falls.
House prices fell in Hawkes Bay (-2.9%) and
Northland (-1.5%) during the year to end-September
2012.
Auckland has the most expensive housing in
the country with an average price of NZ$515000
(US$422228) in September 2012 while Southland
has the cheapest housing with an average price of
NZ$200000 (US$163972).
This was supported by data released by the
government valuer Quotable Value Ltd., showing the
national residential property price index increased by
5.3% during the year to end-September 2012. Over
the same period:
· In Auckland Area, the average sales price soared
7.2% to NZ$575797 (US$472073)
· In Wellington Area, the average sales price rose
2.3% to NZ$445679 (US$365394)
· In Main Urban Areas, the average sales price
increased 6.1% to NZ$478404 (US$392224)
· The average sales price is now NZ$428308
(US$351153).
www.reimag.co.za