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Compared with what you probably paid for your current home, you’ll find your currency converted to New Zealand dollars will go a very long way in our real estate market.
Owning our own home is something that two-thirds of us have chosen to do and is still affordable for most.
While suburban houses still account for 85 percent of house sales, inner-city and semi-rural living are becoming increasingly popular options.
The following is a look at some of our more common housing styles and the price range they generally fall into. The prices mentioned are indicative and vary by region.
Inner city apartment
An inner city apartment is the residence of choice for professional people wanting to be close to the action and close to work without parking or public transport hassles.
Usually, these apartments are either one or two bedrooms with a single bathroom/toilet, combination lounge and dining room and adjacent kitchen.
Many feature an outdoor patio or balcony. Very safe and secure, these units average around NZ$350,000.
Inner city home
Just outside central city areas in some of the older suburbs, these charming one-storey colonial villas, bungalows and cottages are slowly being brought back to their former glory.
Couples and young families are choosing to live in the city rather than move to the suburbs and are modernising these homes while retaining their old world charm.
Living so close to the city has its rewards but
there is a cost. An average price of around NZ$550,000 will secure one
Townhouse with a view
Everyone loves a sea view and with one of the world's longest coastlines, it would be fair to say we have a few. Townhouse construction has been rapid over the last decade particularly in the metropolitan areas for people wanting the city and the sea on their doorstep.
Most of these newly built or newly refurbished
townhouses have a minimum of two double bedrooms, large open plan living
and an outdoor area that makes the most of the stimulating environment.
Expect to pay NZ$800,000+.
Small farmlets of up to two acres have become extremely popular for Kiwis wanting to keep the city (and their neighbours) at arm’s length but close enough to enjoy the benefits they offer.
Most of these farmlets are only half an hour from a major city or five minutes from a country town. Big enough to make them a working farm or small enough to put down a tennis court and/or swimming pool, lifestyle blocks are just that – a happy medium between a city and rural life.
Depending on size and location, you could expect to pay around NZ$600,000.
Suburban family home
Featuring anywhere between three and five bedrooms, these large family homes built on reasonably sized, established sections make up a significant proportion of New Zealand housing.
They normally have fenced front and back yards
so the kids and pets have plenty of space to play safely. Drive-on access
and a one car garage complete the home. These properties would have an
average price of around NZ$400,000.
Source: New Zealand Immigration Service, accessed April 2006