SUMMER IN NEW ZEALAND MEANS SUN,HOLIDAYS, SWIMMING AT THE BEACHES OR PICTURESQUE LAKES, BUSHWALKING (NO SNAKES OR DEADLY SPIDERS), BBQs at the beach or at your house and generally a very relaxing time for everyone. It also means daylight saving with nice long, warm, days.
NEW ZEALAND IS A GREAT COUNTRY RIGHT NOW (PERHAPS THE BEST COUNTRY IN THE WORLD TO RESIDE DURING THE WORLDWIDE COVID-19 TIMES). Recently it has been one of the few countries in the world to go down to COVID LEVEL 1 REVERTING TO "NEARLY" NORMAL LIFE AGAIN, i.e. unlimited numbers at sports, entertainment and public gatherings. We still have to wear masks on public transport and planes. New Zealanders should still continue monitor where they go with their COVID mobile app in case of another outbreak. The main condition left is our Closed Border to the rest of the world. Many New Zealanders are returning to New Zealand (in "managed isolation" usually by the Military in hotels for 2 weeks on arrival). New Zealand is great for lifestyle, jobs, education and property.
SO MUCH IN NEW ZEALAND HAS OCCURRED IN 2020. Not only COVID but Fixed Interest Rates hit "rock bottom" record at 2.39% for the first time (as at November 2020). First Home Buyers as a large percentage of home purchasers throughout all of NZ. Investors have been so active that banks have recently lowered the LVR back to 70% finance to control the booming market. The whole of New Zealand plus construction industry reflectis the property market growing faster than before COVID. COVID has brought New Zealanders "pulling together" and helping each other so much.
UNEMPLOYMENT RATE for Q3 September 2020 was 5.3%
PROPERTY MARKET - As at 1 November 2020 New Zealand average median house increased in the past 12 months 8% to $753,038, Auckland Region increased +6% to $1,093,405, Tauranga increased 6.1% to $803,447, Wellington Region increased 11.1% to $811,099, Nelson increased 6.7% to $675,280, Christchurch increased 5.2% to $526,062, Queenstown Lakes District decreased -4.3% to $1,202,463, Dunedin increased a huge 14% to $554,420, Invercargill increased 13.7% $362,380. The strongest NZ performer was Gisborne increased 25.5% to $475,128. Wellington remains strongest "growing market of main centres. A lack of supply of properties on the market has triggered the value increases plus interest rates.
FIRST HOME BUYERS - access to your deposit from your Kiwisaver Superannuation. Refer to Housing New Zealand website to see if you qualify www.hnzc.co.nz. There are Regional/Location purchase price and personal income limits. Up to 90% finance (conditions apply)
REMEMBER ALL NONRESIDENTS MUST HAVE A NZ TAX FILE NUMBER BEFORE THEY SETTLE ANY NEW ZEALAND PROPERTY and must provide their overseas tax file number.
NONRESIDENTS PURCHASING PROPERTY IN NZ - There is a ban of nonresidents purchasing "existing residential properties" - with the exception of New Zealand, Australian and Singaporean citizens. Nonresidents purchasing new properties are acceptable.
RENTAL AND VALUES: When you look at such a diversified value in New Zealand and look at rental return on the Government website (outlined on this website "Useful Links"), you will see the capital growth and/or rental returns that suit you pertaining to the New Zealand location you wish to purchase.
REMEMBER THERE IS NO STAMP DUTY AND NO LAND TAX in New Zealand. You normally require your deposit for the property plus approximately NZ$1,500 legals to NZ solicitor to acquire a New Zealand property.
