Why Moving to New Zealand is Becoming Increasingly Popular
Many expats enjoy networking opportunities in New Zealand, whether online or in person. Whether you’re moving to New Zealand for work or pleasure, preparing for this transition can take months. You’ll need to negotiate a number of rules and regulations, including those regarding household goods, pets, and the like. Listed below are some of the most common challenges encountered by expats.
Many citizens are retiring
The plight of the pandemic in other countries has prompted many to return to their native country. As a result, housing and employment issues have been a major concern for these people. On the other hand, they also value the fresh air, sparse population, and sense of security that New Zealand has to offer. This has made moving to New Zealand increasingly popular with citizens of many countries.
The economic situation in New Zealand is improving rapidly. In April, the median house price in New Zealand rose by 23 percent to $920,000, a comparatively high figure for the country. Compared to the US, the house price in New Zealand is about 60 percent higher. However, renouncing your US citizenship can cost you more than $2,000. While the median house price in the Southland region is relatively inexpensive, any movers Auckland will tell you that the well populated major cities including Christchurch, Wellington and Auckland tend to be expensive. The average house and land package in Auckland costs more than $1,100,000, while the cost in Wellington is $980,366.
Baby boomers are seeking a more family-focused life
Research conducted by Colmar Brunton has identified six distinct clans among New Zealand’s baby boomers. Based on age, health and attitude towards media and technology, baby boomers tend to be more family-oriented than their eldest counterparts. More than half of baby boomers wish to travel more frequently, while over half are keen on doing occasional exercise. In addition, more than half of baby boomers are keen to volunteer their time in their communities.
Despite the fact that the baby boomer generation had an extremely high birth rate, they were encouraged by the increasing social freedoms that followed the Second World War. These groups were more optimistic than their parents, and gained more freedom through post-war reconstruction and steady industrial development. During their teenage years, they also experienced the rise of women’s liberation movements and the civil rights movement. Compared to their parents, they were also more individualistic, and tended to reject traditional values.
It is typically a safe country
You’ll find in New Zealand that the country has been rated as one of the safest for families to live in. In the 2020 Global Peace Index, which ranks 160 countries by personal violence, New Zealand was ranked the second safest, behind Iceland. Compared to other OECD nations, New Zealand has typically a low crime rate however that is not to say that there is no crime. Like any other country, crime rates are higher in the major cities and usually committed when there is opportunity. The health care system is also of high quality, providing health cover for all of its citizens. The country’s education system is very impressive. It spends more than ten per cent of its GDP on education. Its education system focuses on educating young people for the world of tomorrow, and this is reflected in its ranking in the 2019 Worldwide Educating for the Future Index.
Great Work / Life Balance
The cost of living in New Zealand is low compared to other nations and the quality of life is excellent. Prices vary between regions, but in general, you’ll find prices to be much lower than in cities like London. Prices for housing and other necessities are also considerably cheaper than in many European cities where citizens consider food and imported goods more expensive, so you can save a lot of money by moving to New Zealand.
For example, moving to Nelson means you can get off the beaten track and discover the country at its most authentic level. You can enjoy natural attractions such as the sulphurous mud pools and geysers, or you can explore the indigenous Maori culture in places like Rotorua. If you’re looking to explore the countryside, you can also visit the North Island’s East Peninsula, which boasts stunning mountain scenery and rugged coastline.
The Comparison Between Australia and New Zealand Property Markets
This article discusses The Comparison Between Australia and New Zealand Property Market’s advantages and disadvantages. For starters, the former is much cheaper to purchase a property than the latter, even though the latter’s capital gains tax is much higher. Moreover, renting a property in a foreign country allows you to test out the living conditions before buying a house. And you can even find cheaper rental property in New Zealand compared to Australia!
Renting a property is a good way to get a feel for living in New Zealand
While living in New Zealand can be expensive, renting a property is the most affordable option. Rent is usually calculated on a weekly basis, so it is important to keep this in mind when comparing advertised rents. Traditionally, real-estate agents charged tenants a letting fee equal to one week’s rent before they actually took possession of the property. But recent legislation prohibits real-estate agents from charging this fee.
If you aren’t sure whether to buy a property or rent one, renting a property is a great way to sample the housing market. However, keep in mind that housing prices are estimates and are subject to fluctuation. Although the city life is attractive, rural areas of New Zealand can provide many benefits as well. If you are planning to buy a property, you should be aware of the restrictions on purchasing property. The Overseas Investment Amendment Act is a fee placed on overseas residents who purchase a property in New Zealand, luckily Australians are exempt from this and can purchase property without paying such fee.
Invercargill is the most affordable place to live in New Zealand
If you are looking for cheap housing in New Zealand, Invercargill is a good choice. This laidback city is home to more than 50,000 people. It is a good place to raise a family and enjoy the low unemployment rate. Its southern lights, or Aurora Australis, are also visible from the city. In addition, you can also study for free at Southern Institute of Technology.
The cost of living in the Southland region has increased by 21.3 percent compared to December 2021, and Invercargill still trails behind the other regions. A two-bedroom house in the city center costs just $570 per month. The region is popular with retirees and young people. It is also an affordable place to buy a house. Those who are on a tight budget can look forward to a low monthly rent in Invercargill.
Cost of purchasing a property in Australia is cheaper than in New Zealand
While the median price of a property in Auckland is $845,000, the same price in Brisbane is $682,000. In addition to the price of a home, the cost of conveyance is lower as well. While the price of stamp duty and other taxes in New Zealand is higher, it is not enough to dissuade a prospective buyer from moving to Australia.
The cost of purchasing a property in Australia is lower than in New Zealand because Australia has an abundance of land and the population is also high. Of course there is always inflated prices in the cities due to higher demand. It is worth bearing in mind that the Australian population is 25 million, while New Zealand has only 5.1 million people, the land mass of New Zealand is 268,000 km square whilst Australia is 7.7 million km square. This makes it an attractive investment for first-time buyers. This low-cost policy also makes the country a more affordable option for those who want to invest in property.
There is no capital gains tax in New Zealand
If you are an investor looking to sell your property, the good news is that there is no capital gains tax in New Zealand. This tax will reduce the housing market’s potential growth and will cause investors to hold off on selling their properties. In addition, it will cause short-term supply shortages as investors will be hesitant to sell their properties when prices rise. Regardless of how you feel about the tax, the benefits of having no capital gains tax are well worth the trade-off.
The government is under increasing pressure to make some changes to curb the property market, and while there is no full-blown capital gains tax in New Zealand, the centre-right government has so far resisted. Even the Reserve Bank of New Zealand has criticized the government’s inaction in addressing the housing shortage. A recent survey of real estate agents found that the average Kiwi made a loss on their purchase, but relied on the resale profit to consider the investment a wise one.