New Zealand Investing
- Thread starter vickit
- Start date
Vicki
There may be a few- we do have some NZ members.
But for specific NZ proeprty discussions, you may want to check out www.propertytalk.co.nz
There may be a few- we do have some NZ members.
But for specific NZ proeprty discussions, you may want to check out www.propertytalk.co.nz
Hi Vicki,
as well as www.propertytalk.co.nz there has been lots of discussion on NZ at www.propertyinvesting.com
I have some NZ IP's, do you have any specific questions?
regards,
Rod.
as well as www.propertytalk.co.nz there has been lots of discussion on NZ at www.propertyinvesting.com
I have some NZ IP's, do you have any specific questions?
regards,
Rod.
Last edited:
Hi Mashari,
I haven't found it any more painful than any I've purchased here (in fact one I'm purchasing at the moment in NSW is being more of a pain than any I've bought in NZ). There is a bit more initial leg work involved in getting decent advice and determining/setting up the appropriate investment structure and building up contacts with RE agents, mortgage brokers etc but that's to be expected.
Deposits are similar to here, most areas require 20%, some 30%. Generally non NZ residents need 20%, I've been told that there are lenders who will (in theory) do 10% deposits, but I haven't heard of anyone who has actually done it.
regards,
Rod.
I haven't found it any more painful than any I've purchased here (in fact one I'm purchasing at the moment in NSW is being more of a pain than any I've bought in NZ). There is a bit more initial leg work involved in getting decent advice and determining/setting up the appropriate investment structure and building up contacts with RE agents, mortgage brokers etc but that's to be expected.
Deposits are similar to here, most areas require 20%, some 30%. Generally non NZ residents need 20%, I've been told that there are lenders who will (in theory) do 10% deposits, but I haven't heard of anyone who has actually done it.
regards,
Rod.
RodC said:
We did a 5% deposit on our PPOR four years ago. We are in the process of applying for finance through ANZ and they are happy to accept a 10% deposit.
The mortgage broker we work through is Sue McGaw, based in Auckland, NZ. We first used her services when we bought our home four years ago and we have been really happy. I don't know the name of the company she works for. It was IFL Associates a while ago but since then I think she has branched out on her own. Doesn't bother me. I just phone her home office number (09) 410 2684 and ask for money. It's worked so far!
nz
Buying in New Zealand is great but you need to understand the rules. I work as a buyers advocate and specialise in new zealand. I mainly deal with cities and established properties.
To purchase effectively there you need to borrow in New Zealand, you need to sety up a tax effective structure, that will also protect you as an australian investor. It is also important to look at positive cashflowe property, because you have no income in new zealand.
With returns in major cities ranging from 6.5%-12% and higher in smaller towns compared to our 3-4% it makes great investing and allows you to have a separate income stream.
Regarding the research some can be down on line however you need to pick a city and go there and spend at least a week to fully understand the market.
I can do this for you if you prefer, including the finance and structure.
For further information me email me at [email protected]
I am always happy to offer any advise I can to this forum
Regards
Nigel Kibel
www.propertyknowhow.com.au
Buying in New Zealand is great but you need to understand the rules. I work as a buyers advocate and specialise in new zealand. I mainly deal with cities and established properties.
To purchase effectively there you need to borrow in New Zealand, you need to sety up a tax effective structure, that will also protect you as an australian investor. It is also important to look at positive cashflowe property, because you have no income in new zealand.
With returns in major cities ranging from 6.5%-12% and higher in smaller towns compared to our 3-4% it makes great investing and allows you to have a separate income stream.
Regarding the research some can be down on line however you need to pick a city and go there and spend at least a week to fully understand the market.
I can do this for you if you prefer, including the finance and structure.
For further information me email me at [email protected]
I am always happy to offer any advise I can to this forum
Regards
Nigel Kibel
www.propertyknowhow.com.au
RodC said:
Oops! Sorry! I'm new to this game! BTW - the 10% is for our next three IP's not a PPOR. And I have just checked with our mortgage broker (while checking out our current application) and she says that non-resident overseas investors need a 20% deposit. If they are NZ residents working overseas then they can get away with just a 10% deposit.
btw you could also ask the new zealand investors on thsi forum i am a kiwi who now lives in the UK but have IP in NZ, and can advise you on certain NZ towns and cities, as i sure can others on the forum. most NZ high st banks will lend offshore investors at least 80% of an ip provided they have a good financial setup where they are
I have IP in NZ and have contacts in Lower Sth Island with many IP's in excess of 60 (yes 60). I would advise doing a deal of research before investing. You can also get info on ppty prices and other stats from the two sites below.
http://www.terranet.co.nz/terranet/realenz/index.jsp
https://www.qv.co.nz/default.htm
Both are good and the prices per report are not too heavy.
The below link shows ppty for sale across NZ.
http://www.realenz.co.nz/
There are some great ppty if you do your due dilligence !
You should also ask why you want to invest in NZ and are you comfortable with the distance and have a good PM. I have had a finance history with BNZ before moving to Aust, so finance for me has not been an issue. Also check any tax issues.
Good luck with it all !
KI
"Are you building a pipeline or carrying buckets"
http://www.terranet.co.nz/terranet/realenz/index.jsp
https://www.qv.co.nz/default.htm
Both are good and the prices per report are not too heavy.
The below link shows ppty for sale across NZ.
http://www.realenz.co.nz/
There are some great ppty if you do your due dilligence !
You should also ask why you want to invest in NZ and are you comfortable with the distance and have a good PM. I have had a finance history with BNZ before moving to Aust, so finance for me has not been an issue. Also check any tax issues.
Good luck with it all !
KI
"Are you building a pipeline or carrying buckets"
Open your eyes for Pete's sake
1 - different economy with a different currency
2- need to inspect the property? costly.
3 - are you buying in a "no-go zone"
4 - Different laws and you can't ring your local member to cry about changes to foreign ownership rules
risky risky risky
Have you looked at New Zealands population? Declining. Know anything about Maori and the whole land rights problems there? The problems are far more marked than here in oz.
WOuld you buy in another state?
A change in legislation either here in Oz or in NZ could see you in dire strife. Don't think it wont happen. Recall NSW recent changes. What is the NZ govt going to do when people cry that investors have locked them out of home ownership? You might get the wrong end of the stick.
But then again you'll still buy in New Zealand. Good luck to you. My missus is a kiwi and we were looking at moving over there but their housing has gone crazy as well. So now we just wait for the crash and will buy up from an "investor" at bargain rates. Then again the "investor" wont be there it'll be the banks representative. Nice fellow hope you don't meet him
1 - different economy with a different currency
2- need to inspect the property? costly.
3 - are you buying in a "no-go zone"
4 - Different laws and you can't ring your local member to cry about changes to foreign ownership rules
risky risky risky
Have you looked at New Zealands population? Declining. Know anything about Maori and the whole land rights problems there? The problems are far more marked than here in oz.
WOuld you buy in another state?
A change in legislation either here in Oz or in NZ could see you in dire strife. Don't think it wont happen. Recall NSW recent changes. What is the NZ govt going to do when people cry that investors have locked them out of home ownership? You might get the wrong end of the stick.
But then again you'll still buy in New Zealand. Good luck to you. My missus is a kiwi and we were looking at moving over there but their housing has gone crazy as well. So now we just wait for the crash and will buy up from an "investor" at bargain rates. Then again the "investor" wont be there it'll be the banks representative. Nice fellow hope you don't meet him
nz
Yes its true that the rules and the economy are different.
However property investment is first about research and understanding the different rules that exist between our two countries.
The fact is that far more people rent in Nz than Australia. If you stick to major cities like Wellington and Christchurch, it is safer than purchasing in the country. I look for family homes in good locations. You can purchase houses there in the centre of the city for between $200,000-$300,000 and still return 6-8%, in some of the outer suburbs the returns are much stronger. While the returns are at this level there is still growth in the Nz market.
Purchasing owner occupier properties in good locations purchasing for the long term is a safe investment as long as you do your research and understand the rules. Always consult with a good NZ accountant regarding structures.
If anyone would like further information I would be only too happy to discuss New Zealand further.
Regards
Nigel Kibel
www.propertyknowhow.com.au
Happy new year to all
Yes its true that the rules and the economy are different.
However property investment is first about research and understanding the different rules that exist between our two countries.
The fact is that far more people rent in Nz than Australia. If you stick to major cities like Wellington and Christchurch, it is safer than purchasing in the country. I look for family homes in good locations. You can purchase houses there in the centre of the city for between $200,000-$300,000 and still return 6-8%, in some of the outer suburbs the returns are much stronger. While the returns are at this level there is still growth in the Nz market.
Purchasing owner occupier properties in good locations purchasing for the long term is a safe investment as long as you do your research and understand the rules. Always consult with a good NZ accountant regarding structures.
If anyone would like further information I would be only too happy to discuss New Zealand further.
Regards
Nigel Kibel
www.propertyknowhow.com.au
Happy new year to all
Hi Nigel,
what sought of structure are you suggesting to set up prior to investing in NZ, I have finance approval and are looking at the South Island. Can you suggest a good NZ accountant? Martin
what sought of structure are you suggesting to set up prior to investing in NZ, I have finance approval and are looking at the South Island. Can you suggest a good NZ accountant?
MartinSimilar threads
