Imz

Hi All

I am visiting Auckland and Wellington in December, and wanted to findout which suburbs are ok to live in. Can i get an apartment for 100k Nz dollars?

Are there any books out there i could purchase with more information about where to live in either Auckland or Wellington?

Wooly_Cow

Try looking on Trade me under Real estate.

I think you need to give more information regarding what you are looking for beofre anyone can give you views on suburbs

irnbru14

Hey! I would think it is highly unlikely you would get an apartment for $100k in Welly or in Auckland!

Dunno about books on that subject, but if you post up what you are looking for in the area you live you will get some good advise on here

Stoof

there's a book called something like 'residents guide to new zealand' ... it's got sections in for suburbs in Welly and Akl as well as details about where to buy stuff etc... it's a few years old now though, and of course is pretty subjective based on the authors experience/background... might give you a rough idea though i'd say you'd be as well letting us know what you're looking for in a suburb and loads of people will make suggestions.... have you tried searching this main forum for similar threads - they come up quite regularly. Another idea is to have a look in the rough guide/lonely planet though these are obviously written from tourist perspective.

HTH

had a quick look in the wiki - city guides.... this link in there for akl http://www.auckland-suburb-guide.co.nz/

Imz

Hi there,

Thank you for all your posts. Well I am a single 29 year old lad so looking for an apartment in either central Auckland or Central Wellington, don't really fancy spending my younger days in a far out lower hutt or somewhere deserted want to be out there in the city. So i have about 100k Nz dollar to put down on an apartment - what an average mortgage out there?

Kind Regards
Immzy

Wooly_Cow

Mortgage rates depend on a lot of factors and are difficult but mot impossible to get if you don't have PR. in fact some banks insist on iRRV if you have a low deposit. The lowest rates for variable rates are about 5.79% and fixed rates around that going up a little for longer terms.

Most banks expect 20% deposit these days.

NZ historically has higher interest rates that US or Europe.

Kiwiprincess

Do you want to live alone? If you are willing to share with people (paying towards a mortgage) then you probably have a bit of flexibility. Also, this might be a dumb thing to say....but check that what you think of as an apartment and what kiwis think of an apartment match up. For instance - that you are thinking of an apartment or a townhouse. Townhouses which are really semidetached or terraced (for the most part) properties. In many cases townhouses are bigger and often quite central.

And definitely (as mentioned) check trademe

You have the option of searching just within Wellington city which is helpful. Also, at the bottom of each page is a map which can pinpoint roughly the area the property is located in.

Just as a final suggestion...I would really suggest renting for a while first. The only reason for that is you may get an idea about what kiwis look for in an apartment (resale value or resale ability for you). Eg, outdoor balconies, residents parking (on the street), actual parking spots, leaky buildings (avoiding rather than wanting those) etc.

luvwelly

When we moved out here in 2007 mortgage rates were around 10% when in UK they were half that. Ditto savings interest rates.
http://www.realestate.co.nz/residential/all/wellington
This website will give you a good idea of what's for sale in Wellington area at what price....in central suburbs anything under NZ$350k is rare and probably in need of restoration.
If you just want the experience, finding an affordable rental..flat sharing for instance centrally might work better and keep your savings in the bank earning higher rates than in UK at the moment until you know for sure where you want to live.

irnbru14

Rental is also expensive here compared to back in the UK, there are lots of new apartments up for rent in and around central Welly, but cost will vary if you want 1 or 2 bedrooms etc, most likely have to take a 1 year lease on a place, so you would need a bond (minimum of 2 weeks rent) and 2 weeks rent up front. Rent is mostly paid weekly here, which is a pain, as (which is unusual in NZ) I get paid monthly!!

Wooly_Cow

not sure I agree.....don't forget that rental here includes council tax which is about 10%-12% of the total bill.

irnbru14

I am paying more to rent a flat in Welly than I was in Edinburgh, whether you measure it as percentage of salary or a straight dollars to pounds conversion.

luvwelly

Here's a rare flat to buy well under 200k...bit pokey though...great description
....chic Paris style lol.
http://www.realestate.co.nz/1134122?max_price=300000

Kiwiprincess

Actually that's a good point. If it's simply a matter of buying a place, then there are one bedroom (or studios with a partition wall) available for a cheaper price.

Bugger to live in though unless you spent a lot of time away from it!