Living in Northland

Article Index
Living in Northland
Climate
Economy
Cost of Living
Housing
Education
General Information

Housing and Accommodation

The New Zealand housing lifestyle is diverse, ranging from urban old style villa homes to new suburban townhouses and the increasing trend of inner city apartment living.

BUYING A HOME
New Zealand proudly boasts one of the highest home ownership rates in the world. Housing in New Zealand is very affordable compared to numerous other countries. Where you choose to buy a home may depend on factors such as schooling areas, job opportunities, and the type of neighbourhood environment you enjoy and also the cost of houses for sale in different areas.

Some New Zealand banks may let you borrow up to 95% of the valuation price of a property, however this depends on the individual banks’ criteria, your credit history, the amount you can afford for mortgage repayments and how much deposit you have.

The majority of New Zealand property is sold through real estate agents who work for the vendor (person who is selling the property). The agent charges the vendor a fee based on a proportion of the selling price of the property.

In November 2006, the median property sale price in Northland was NZD$285,000 (Real Estate Institute of New Zealand Market Facts ). In recent times, property prices in Northland have shown an increasing trend. Despite this increase, median property sale prices in Northland remain significantly lower than in Auckland (November 2006 NZD$425,000).

RENTING A HOME

Most new migrants choose to rent a home in New Zealand until they have decided exactly where they would like o settle. Rental prices vary depending on the location and type of property.