Housing

When compared with other countries, housing in New Zealand is affordable, comfortable and spacious. There are significant differences in house prices between New Zealand cities with Auckland being the most expensive city.

House prices during the past 2 to 3 years have boomed especially in the Auckland region although the Real Estate industry now see a levelling off of prices as the market begins to settle.

For most people mortgages are easily obtained if applicants fulfil a bank’s criteria. Some banks will lend up to 90% of the valuation of a property, provided there is security in that property. Currently interest rates vary from 8 - 10% depending on whether you are selecting “fixed” or “floating” rates.

New Zealanders live in a variety of housing ranging from a standard 3 bedroom, ground level home with garden and garage to an inner city apartment with underground parking.