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Is it better to buy a house/flat in the UK or NZ now?

Is it better to buy a house/flat in the UK or NZ now?

Old Jul 15th 2020, 9:52 am
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Default Is it better to buy a house/flat in the UK or NZ now?

If you had the chance where would be a better investment?
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Old Jul 15th 2020, 10:43 am
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Default Re: Is it better to buy a house/flat in the UK or NZ now?

All other things being equal it'd be New Zealand, we have a peculiarity in our tax code where we effectively have no CGT or Stamp Duty.
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Old Jul 15th 2020, 11:33 am
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Default Re: Is it better to buy a house/flat in the UK or NZ now?

Originally Posted by devonport12 View Post
If you had the chance where would be a better investment?
Nobody can answer that and what is it worth if someone tells you NZ/UK is the better place to invest if you bought the wrong property in the wrong location, or paid too much at the wrong time?
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Old Jul 17th 2020, 4:01 pm
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Default Re: Is it better to buy a house/flat in the UK or NZ now?

  • We have looked at buying in Scotland because they don't have stamp duty.
  • Property is less expensive in the UK than N.Z.
  • Interest rates and house values in N.Z. are high as well as everything else! We know, we're from there.
  • Higher increase in property value over the next 10 years? Who knows?
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Old Jul 17th 2020, 5:09 pm
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Default Re: Is it better to buy a house/flat in the UK or NZ now?

Originally Posted by Moses2013 View Post
Nobody can answer that and what is it worth if someone tells you NZ/UK is the better place to invest if you bought the wrong property in the wrong location, or paid too much at the wrong time?
Then there is the matter of the exchange rate - if you bought a house in the UK prior to 2016 you could have a property that has increased in value in pound sterling terms, but has fallen in value in NZD terms, because of the collapse of sterling.

IMO investing in a home anywhere other than either [1] where you currently live, or [2] where you expect to live in future, including in retirement, is always going to be highly speculative. So if you live in NZ, IMO it would be foolish to "invest" in a house in the UK unless you have a reasonable expeactation of returning to live there, because there are too many risks, both financial and practical, to owning a house in another country and thousands of miles away.

Last edited by Pulaski; Jul 17th 2020 at 5:11 pm.
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Old Jul 18th 2020, 12:47 pm
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Default Re: Is it better to buy a house/flat in the UK or NZ now?

There certainly is Stamp Duty in Scotland - only it's called the Land and Buildings Transaction Tax. The threshold will rise from 145k to 250k from 31 March 2021.
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Old Jul 18th 2020, 1:16 pm
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Default Re: Is it better to buy a house/flat in the UK or NZ now?

Ir depends if you want to live in NZ or in UKofGB&NI.
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Old Jul 25th 2020, 5:41 pm
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Default Re: Is it better to buy a house/flat in the UK or NZ now?

Thank you everyone for your replies, much appreciated. I definitely want to go back to NZ and avoid the second wave in the UK....sorry it is coming. Definitely do not want another winter here 2 summers is the goal and a new mini lifestyle block possibly, we shall see.
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Old Jul 25th 2020, 11:25 pm
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Default Re: Is it better to buy a house/flat in the UK or NZ now?

Originally Posted by devonport12 View Post
I definitely want to go back to NZ and avoid the second wave in the UK....sorry it is coming.
The UK's first wave can't be said to be over with numbers of 700+ cases per day and until such time that it is, we're all at risk of further waves. It only takes one case, so even with pretty strict quarantine regime here we're just one wedding or funeral away from a new cluster and a second wave. Unfortunately, it seems that too many of the arrivals that are quarantined can't be trusted to do the right thing and the public at large and businesses seem to have given up on maintaining any form of contact tracing.

Where we go from here on border controls etc. will also depend on the outcome of the election on 19th September.
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Old Jul 26th 2020, 6:37 am
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Default Re: Is it better to buy a house/flat in the UK or NZ now?

To be honest, level 4 wasn't so bad.
I'd rather carry on as we are and drop back a level or 3 if and when neccerssary. It's not feesible to keep the population on high alert when the risk is so minimal.
i think for many, having seen the Rona pass so easily, and affect so few, they wouldn't see it as such a risk. While infection rates climb, death rates seem to be falling. I wonder if many simply don't see it as a real threat anymore.
For me personally, the only thing stopping me from traveling overseas is bring stuck in isolation when I get back.
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