how to buy a house in new zealand from australia

While in the short term there are concerns about a “correction”, the New Zealand economy is well positioned for the future, as is the property market that still offers attractive long term potential.
The New Zealand economy and housing market continues to power ahead, despite the recent rise in interest rates to 7.75% – very high by historic standards.
The problem is that the attractive interest rates are attracting speculators who are buying the New Zealand currency, which has indirectly squeezed house prices higher.

Property in most areas continues to grow in value; Statistics New Zealand reports that the market nationally returned 15 per cent annual growth in November 2005.
The national median price for residential property hit $300,000 for the first time in November 2005, according to the Institute of New Zealand (Inc).
Furthermore, properties in the greater Auckland market such as Manukau and North Shore continue to experience property value growth rates closer to the national average, illustrating that there remains strong growth in the market.
Figures from property valuer QV for November 2005 show that property values in Hamilton grew 27.7 per cent over the 12 months to November, making Hamilton one of the country’s leading property hotspots.
Auckland City property values increased just four per cent over the 12 months to November 2005, however the average price currently sits at around $475,841.
Many of the larger banks in Australia have partners or branches in New Zealand, so they can organise finance for Australians against New Zealand property, and even carry out most of the transactions and arrange paperwork etc.
If you are a looking to purchase a New Zealand property as a First Home Buyer, as an Owner Occupier, an Investor (Resident or Nonresident), are contemplating shifting to New Zealand permanently from overseas, wish to purchase Lifestyle, Coastal or Commercial and Business property, then please read the interesting newsletter and website links.
Our focus is to help provide mortgage options and creating loan solutions for Australian residents and people around the world wanting a New Zealand mortgage.
The rules and regulations for buying property in Australia do vary from state to state, so itʼs wise to learn how things work in the area youʼll be moving to before going too far along in the buying process.
As a New Zealand citizen buying property in Australia, you may be eligible for the First Home Buyerʼs grant if the property you wish to purchase or build meets the conditions of the scheme.
When you buy property in Australia, youʼll need to pay a local tax called stamp duty on top of the purchase price.
Read more about moving to Australia in the full How To Move To Australia Guide, or check out our discussion forum to find more help with planning your move.
However, if you move to Australia and rent out your house in New Zealand for a time before eventually selling it, you will need to pay capital gains tax.
If you sell your home in New Zealand before moving to Australia, you wonʼt need to pay capital gains tax as you are still a resident of New Zealand for tax purposes.
Read more about moving to Australia from New Zealand in our full, free Move to Australia Guide.
New Zealand citizens are exempt from the requirement to obtain approval from the Australian Foreign Investment Review Board (FIRB) before they purchase an urban property in Australia.
New Zealand citizens who wish to buy rural or commercial property in Australia, like all other foreign citizens, would likely need to obtain FIRB approval.
To be eligible for a state home administered by Housing New Zealand Corporation, Australian citizens and permanent residents must be resident in New Zealand for two years, be in receipt of a benefit from the Department of Work and Income, or be a naturalised New Zealand citizen.
Other housing assistance (such as an Accommodation Supplement) may be available from the Department of Work and Income for people not renting from Housing New Zealand.
What do the Kiwis expect? Consider this quote from teh article: "Some Australians are doing well: one Aussie buyer bought a block of flats, unseen, for $NZ290,000 ($244,706) in the university town of Dunedin".
The latest BNZ-REINZ Residential Market Survey shows that people in Australia represent 22 per cent of all foreign purchases in New Zealand, with people in China close behind at 20 per cent.
Some Australians are doing well: one Aussie buyer bought a block of flats, unseen, for $NZ290,000 ($244,706) in the university town of Dunedin.
While Mr Alexander said he did not believe foreign buyers were to blame for New Zealand’s affordability crisis, he said a ban would be "useful in making people in New Zealand think about what are the actual causes of the price rises".
Sydney-based Mary O’Brien from New Zealand Mortgage Solutions said she had noticed a jump in the number of Australians buying New Zealand property over the past two years, but only in certain areas.
Bank of New Zealand chief economist Tony Alexander, who put the report together, has called for a ban on foreigners buying existing properties in New Zealand.
The rental market has also been relatively flat over the past two years, and Ingerson says an extensive survey of landlords across New Zealand by Property IQ found the majority were planning to push rents up by 5 per cent in the coming year.
Jonno Ingerson, research director for property information group Property IQ in Auckland, says the New Zealand market has had its share of booms and busts over the past six or seven years and, unlike the Australian market, is now relatively stable.
As well as Queenstown, O’Brien says areas of New Zealand that have been popular with Australian buyers this year have been Nelson and Marlborough (both in the top part of the South Island with vineyards and coastal attractions) and Tauranga, in the North Island’s Bay of Plenty area.
O’Brien says some of the advantages of investing in New Zealand include the relative strength of the Australian dollar to the New Zealand dollar, slightly lower interest rates and the fact there is no stamp duty or land tax and there are virtually no restrictions for foreign investors.
While the Australian property bubble continues to push to the point of bursting, some Australian investors are looking across the Tasman towards the more stable and affordable property market in New Zealand.
There would of course be the extra costs of operating the NZ structures, and any income or gain distributed to an Australian beneficiary would be taxable in Australia.Just as in Australia, if a trust makes a profit, that profit can be distributed to the beneficiaries in the most tax effective way- ie, the lower tax earner gets a bigger portion of the trust’s profit distribution.
However, it’s been suggested to me that if NZ investments were held in a NZ trust, and any gains distributed only to NZ beneficiaries (possibly a NZ company), then no CGT would be payable in Australia as the Australian resident wouldn’t actually own any assets in NZ.
There would of course be the extra costs of operating the NZ structures, and any income or gain distributed to an Australian beneficiary would be taxable in Australia.
Failure to obtain FIRB approval or meet FIRB requirements is a serious offence and can lead to prosecution and the possibility that you’ll be unable to obtain a visa to visit or live in Australia in the future.
Most non-residents need FIRB approval to buy real estate in Australia and should obtain approval before committing themselves to a purchase.
You may exchange contracts before you obtain permission, but one of the conditional clauses in the contract must state that the purchase is subject to FIRB approval.
You must complete form R3 (available from the FIRB directly and downloadable from the website listed above) and send it by post or fax (see above) together with the appropriate documentation, e.g. copy of passport, visa and information pages from the contract of sale.
In many cases, foreigners must obtain approval from the Foreign Investment Review Board (FIRB), before they may buy real estate.
However, unlike in many countries, where foreigners may buy property without any restrictions, Australia has strict regulations governing the purchase of real estate by non-residents.
The luxury homes range in price from 1 million to 50 million dollars and have the distinction of being part of a collection from the leading real estate brokers in the world including luxury homes in California, Florida, Arizona, Texas, Hawaii, and Colorado.
Luxury homes for sale, real estate and luxury property can be found in the luxury portfolio database presented by the leading real estate companies of the world.
Luxury Portfolio International® is the luxury face of Leading Real Estate Companies of the World® the largest global network of premier locally branded companies dominated by many of the world’s most powerful independent luxury brokerages.
The network continues to grow and now markets over 25,000 of the world’s most remarkable homes annually and attracts over 3 million high-net-worth visitors a year by presenting a gallery of the finest luxury properties and brokerage worldwide, our brand is recognized throughout the world as the luxury standard of excellence.
Luxury real estate and luxury homes can be found in Australia and New Zealand with the best selection of luxury homes for sale in the region.
Based in the United States, Luxury Portfolio International® is backed by the experience of the most well respected and well known experts in luxury real estate in markets worldwide.
The kitchen is the one room that can make or break a sale.  It is usually the most expensive room in any house, so if you are selling your home prospective buyers don't want to see a kitchen that needs a total upgrade.
When it comes to selling a property, you'll want to choose an agency with a strong brand, a skilled team and a reputation for consistent, high-quality service.
Spread out in this spacious, comfortable four bedroom home, study and three living areas.
If you are thinking of selling your home in the next few months – or just want to keep it looking good during the winter – it is important to attend to routine maintenance.
Viewing is a must to appreciate the detail and quality finish to this property, it is under 4 years old.
After all, you don't get a second chance to make a first Impression." Darren Palmer, will show you his exclusive tricks of the trade to help you style your home to sell.
LJ Hooker launches its spring campaign on Friday (August 1) with interior designer and The Block judge, Darren Palmer, lending his expertise to the multi-channel media and engagement strategy.
LJ Hooker, Australia’s number one real estate network, has reaffirmed its position in the marketplace by taking out the top prize at the annual Real Estate Business Awards.
On that note, you’ve reached the end of this first post in a series about shipping our IKEA kitchen to New Zealand from Singapore.
We described what we were wanting to do: have our flat packed IKEA kitchen delivered to them, they would put it in a crate and ship it to New Zealand.
Give your shopping list to them, and they’ll purchase the kitchen, freight it to New Zealand, clear it through New Zealand Customs, pay import duties and GST.
How to ship an IKEA kitchen to New Zealand (Pt.
How to ship an IKEA kitchen to New Zealand (Pt.

Tags: