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What can $550,000 buy me?

26 February, 2019

New Zealand’s median house price in January 2019 was $550,000. If you’re in the property market, what can that buy you?

❖    A historic cottage in Otago

❖    A picturesque cottage in Nelson

❖    A character home in sought after Raumati South

REINZ data shows the median house price increased $30,000 in January 2019, up from $520,000 at the same time in 2018.  It could be difficult to find a great home at this price in our main centers but looking further afield in the regions can reap rewards.

Otago, Nelson and the Kapiti Coast are continuing to grow - and are examples of what can be gained by looking further afield for a home if you’re struggling to find ‘the one’. All of these homes are on the market for around the median house price or less - and offer great opportunities.

Otago

Central Otago’s population is growing - in the year to March 2018 it grew by 3.4%, and the mean income increased during the same time by 4.3%.  Dunedin is a fantastic city, with plenty to offer - and is now also a stop for many major events which come to New Zealand. Central Otago offers a fantastic lifestyle.

Nelson

One of the sunniest regions in New Zealand, Nelson offers an unparalleled lifestyle by the sea. The region’s standard of living increased in the 12 months to March 2018, with the median income higher than the NZ average. It’s also right on the doorstep to some of the most beautiful beaches in the country, Nelson is a piece of paradise.

Raumati South

Nestled at the southern end of the Kapiti Coast, Raumati South is a beautiful community just 45 minutes from our capital city. Sitting beside a beautiful beach, overlooked by the stunning Kapiti Island, Kapiti is a thriving region. Employment grew by 3.2% in the year to March 2018, and with Transmission Gully due to open next year, it will bring Kapiti even closer to Wellington.

If you’re thinking about relocating, here are some important questions to ask?

  1. How does it fit in with your lifestyle?
  2. If you need to, are you ready to move away from your family?
  3. Does the area you’re considering offer the right employment opportunities?
  4. Does the area provide you and your family with what you need?

If you’re interested in any of these great properties, or keen to know what you can buy for $550,000 in your neighbourhood (or somewhere else!) then give us a call today 0800 82 55 76.