Can Australia solve Auckland's housing crisis?
LAURA WALTERS Last updated 16:13 02/07/2014
The Auckland project marketer of real estate firm Remax, Mike de Seymour, said New Zealanders who invested in Australian property were usually baby boomers looking for an equity investment or a retirement opportunity on the Queensland coast.
However, the lack of affordability in Auckland housing was driving first-home buyers looking to get into the property market to buy in Australia, he said.
Kiwis looking to get into the property market were not necessarily moving to Australia to live, but they wanted to put their money into property, and homes in Australia seemed more affordable, especially with the lower interest rates there, he said.
First-home buyers looking to Australia for a property investment was an "emerging trend", he said, adding that there were no exact statistics on the number of Kiwis buying Australian property.
LAURA WALTERS Last updated 16:13 02/07/2014
|
However, the lack of affordability in Auckland housing was driving first-home buyers looking to get into the property market to buy in Australia, he said.
Kiwis looking to get into the property market were not necessarily moving to Australia to live, but they wanted to put their money into property, and homes in Australia seemed more affordable, especially with the lower interest rates there, he said.
First-home buyers looking to Australia for a property investment was an "emerging trend", he said, adding that there were no exact statistics on the number of Kiwis buying Australian property.
Comment