Why New Zealanders are snapping up Australian property

The property markets in Australia and New Zealand continue to shift, with rising prices, changing policies, and evolving migration patterns influencing buyer behaviour.

A growing trend sees New Zealanders exploring property opportunities in Australia, whether driven by career prospects, affordability, or investment potential. As more New Zealanders consider purchasing property across the Tasman, it’s essential to understand the factors at play and the benefits of working with a currency specialist to manage your money transfers.

Why New Zealanders are considering buying property in Australia

Access to diverse job markets and living options

Australia’s cities and regions provide a variety of employment opportunities and living environments. Cities like Sydney, Melbourne, and Brisbane attract those looking for career advancement, while more relaxed regions such as the Sunshine Coast, Adelaide, and Byron Bay appeal to those seeking a change of pace in a beautiful setting. With Australia’s wider job market and varied landscapes, New Zealanders can find both career and lifestyle advantages.

Affordability and regional appeal

Although cities like Sydney have high property prices, many regional areas offer attractive options for buyers. Places such as the Gold Coast, the Sunshine Coast, and even lesser-known regions provide a combination of vibrant communities, natural beauty, and a lower cost of living.

Simplified purchase process for New Zealand citizens

Thanks to the trans-Tasman arrangement, New Zealand citizens can live, work, and buy property in Australia with fewer restrictions compared to other international buyers. This agreement facilitates an easier purchase process, allowing New Zealanders to navigate the Australian property market without needing special permits or visas.

Key considerations for buying in Australia

Understanding market trends

Staying informed about market conditions is crucial when purchasing property abroad. Australia’s property market can vary greatly from city to city and region to region, with factors such as local development plans, population growth, and economic trends influencing prices. Partnering with experienced real estate professionals, such as those within the Homely network, can provide valuable insights into property hotspots and up and-coming areas.

Navigating currency exchange and financial planning

Buying property overseas involves careful financial planning, particularly when it comes to managing currency risks. With exchange rates constantly moving, securing competitive rates for deposits and ongoing expenses can make a huge difference in overall costs.

Currency solutions can help New Zealand buyers control costs when purchasing Australian property. One such service is a forward contract, which allows you to lock in a favourable exchange rate for up to two years. Given that property purchases can take months to finalise, locking in a rate protects you from fluctuations, potentially saving you tens of thousands of dollars.

As one of Homely’s preferred partners, TorFX helps you benefit from competitive rates, no transfer fees, and a streamlined transfer process—making your property purchase both cost-effective and straightforward.

Explore currency solutions for buying property in Australia here.