Foreign property ownership in NZ

It is often reported and a common fear, that foreign buyers are buying up huge swathes of New Zealand properties.

A report by the New Zealand Institute of Economic Research (nzier.org.nz) dispels the idea that it is foreign owners who are buying up residential properties in New Zealand and driving prices higher.

From their research, they estimate that foreign cash buyers account for only 8% of all annual transactions.

Of the remaining 92%, 45% of purchases are from property investors, 28% people moving to a new home and 19% are first home buyers.

So is it in fact the demand from property investors that could be helping accelerate the increase in property prices?

Home ownership continues to fall in New Zealand and as interest rates creep higher and property values remain high, this is only going to continue.

30 years ago, an average house cost 2-3 times the average income. By the peak in 2007, an average house cost around 6 times the average income.

Around 35% of the population are renting in New Zealand; while 65% own their own home either directly or through holding it in a family trust.

If you are one of the those people looking to purchase your first rental property or to expand your portfolio then talk to us.

We can help you out with advice about the suitability of any properties for investment and advise on potential returns.

Kerry Fookes

Director - Selwym Property Management

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Selwyn Property Management Ltd

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Lincoln Property Manager

Christchurch Property Management

10C Chaucer St

Rolleston 7614

 

(Located in the block of shops adjacent to the

Rolleston Fire Station)

PO Box 38, Rolleston 7643, Christchurch

 

T:  +64 3 347 0535

F:  +64 3 357 9994

enquiries@selwynproperty.co.nz

 

Operating throughout the following areas:

 

Riccarton

Rolleston

West Melton

Hei Hei

Hornby

 

Prebbleton

Lincoln

Darfield

Halswell

Dunsandel

 

Dunsandel

Springston

Leeston

Kirwee

Yaldhurst

 

 

Burnham

Templeton

Doyleston

Southbridge

Wigram

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