New Zealand House Prices Stabilise

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Reports for the month of July 2011 found that house prices across New Zealand remained at a stable level, with a number of regions, such as Canterbury and Auckland, registering increases in the last three months.

Property value has risen by up to 2.4% marking a clear sign of achievement considering the current state of world finances.

The improvement on New Zealand's housing market is even more impressive when considered alongside the natural disasters that New Zealand have suffered recently. Whilst the economic dilemma faced by a number of countries has been the prime cause for concern, an earthquake which affected the Christchurch region also took its toll on the market.

Despite this, values in these areas have also reported growths – although these were of a lower 1.1%, making them a total of 0.5% higher than they were at the same time last year. This may not seem like much of an achievement but considering the effects of the earthquake within that time it is further proof that the New Zealand housing market is benefiting from a particularly stable platform.

Overall the property prices are still slightly lower than this time last year, with a decrease of 0.4% being the average for the country as a whole. The rise in prices in certain areas is however evidence of the stabilising market and could present a prime opportunity for investors interested in the overseas markets.

Transfer Money to New Zealand

If you are looking to invest in New Zealand, think carefully about how you will be transferring money to New Zealand. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to New Zealand – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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New Zealand House Prices Stabilise

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