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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.
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.
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
of these.
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.
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
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