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Property Options and Types

New Zealand - Property Options and Types


Now that the rise in property prices in New Zealand has started to ease, more and more people are looking to buy their own home. This can be first time buyers or those looking to upgrade to a bigger home, or even downsize to a smaller property. The rise in the value of homes has put many people off making the move, but now many are finding that their dream home is more affordable.

There are several different types of property available to buy in New Zealand and prices vary according to area. Larger cities such as Auckland tend to have more town houses and apartments as there is less free land to build on, so the closer you are to the city centre the less outside space you are likely to find with a property.

Right in the heart of the city there are plenty of apartments to buy. These are popular with the young professionals, singles or young couples who like to be close to work and the nightlife, bars and restaurants. They can vary in size but the most popular are the one and two bedroom homes. Apartments also vary from new build developments to older buildings which have been converted.

Those who work in the city and who have a family tend to opt for the city centre town houses. These are mainly located on the outskirts of the city centre. They are very popular with younger couples who need to be close to the city for work reasons. They are mainly cottage style homes or single storey houses with small gardens. These homes also tend to be expensive due to their proximity to the city.

Homes known as Blue Ribbon Sea View homes are perhaps the most expensive in New Zealand per square metre. This is because they are located close to the city but on a waterfront location. Often these homes are new builds but there are many older buildings now being refurbished to provide high quality living accommodation. They tend to have a minimum of two bedrooms and appeal to mainly young professionals and executive personnel.

Moving away from the cities there are many properties known as smallholdings. These properties tend to have a lot of land attached to them. They are ideal for those who want to grow their own vegetables, keep chickens or just generally want a lot of outdoor space. Some come with swimming pools and tennis courts and many have well established garden areas. Per square metre these are very good value for money.

Also outside of the city you will find larger family homes. These tend to have more bedrooms; usually three as a minimum and 5 or more bedrooms are not uncommon. They are usually situated on good sized plots of land making a generous garden area. They are suitable for families with several children of all ages. This type of property is the most common, and the most popular. They are also excellent value for money.

New developments are mainly in the inner city areas and rarely in the countryside. Most of the residential builds in the countryside areas of New Zealand are from individuals who have bought a plot of land to build their own home on. New build homes are very popular in the cities while those who live in the suburbs and out in the countryside tend to buy re-sale homes. Buying off plan is common for those buying new build apartments in the heart of the city. Part ownership homes and timeshare properties are also very rare in New Zealand.

Those who are moving to New Zealand to retire or those that work from home tend to stay out of the city and opt for property with outside space. Those who move to New Zealand for work, or who hope to find work once there stay closer to the larger towns and cities to cut down on commuting costs and time.

Properties on the South Island also tend to be slightly better value for money as there are fewer jobs available in the area so the population is lower and so demand for homes is lower. The types of homes in the South Island tend to be more country type homes or small holdings with good sized outdoor spaces.


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Expat Health Insurance Partners


Bupa Global

At Bupa we have been helping individuals and families live longer, healthier, happier lives for over 60 years. We are trusted by expats in 190 different countries and have links with healthcare organisations throughout the world. So whether you're moving abroad for a change of career or a change of scene, with our international private health insurance you will always be in safe hands.

Cigna

Cigna has worked in international health insurance for more than 30 years. Today, Cigna has over 71 million customer relationships around the world. Looking after them is an international workforce of 31,000 people, plus a network of over 1 million hospitals, physicians, clinics and health and wellness specialists worldwide, meaning you have easy access to treatment.