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  1. #1
    Join Date
    Mar 2015
    Posts
    133

    Lightbulb Thoughts about buying property in australia

    Hi Folks,

    Here's a question for all the intelligent PI's out there:

    With NZ dollar in parity to AUS dollar (well almost- just a matter of days in my opinion), do you think it is the right time to invest in Australia (only interested in Sydney/Melbourne for now) for kiwi property investors?

    For us kiwis, a deposit now for an Australian property is a roughly 20% discount (in terms of $NZ currency exchange which used to normally linger around the 80cent mark) and their property cycle is just starting to kick off I believe (more RBA interest rate cuts ahead for them) - also might be a decent diversification geographically too particularly for me as I am quite heavily invested in Auckland property? Also, is it possible to get a mortgage in Australia with NZ income and Australian rental income?

    Thoughts?
    Thanks in advance.

  2. #2
    Join Date
    Sep 2013
    Location
    Victoria, Aus
    Posts
    135

    Default

    The Sydney market is way beyond having kicked off and is arguably at, or near the top. Most experienced investors are no longer buying there, or are selling up to cash in on the boom. Melbourne has also moved a lot, but still some options there I believe.

  3. #3

    Default

    I love this guy, exactly my sentiments...

    House prices represent success in life


  4. #4

    Default

    Property: Think Sydney's expensive? Try Auckland
    Sydneysiders are being advised to take comfort from their high house prices - because Aucklanders are suffering more.

  5. #5
    Join Date
    Mar 2015
    Posts
    133

    Default

    Quote Originally Posted by Eljay1 View Post
    The Sydney market is way beyond having kicked off and is arguably at, or near the top. Most experienced investors are no longer buying there, or are selling up to cash in on the boom. Melbourne has also moved a lot, but still some options there I believe.
    I believe the Australian property cycle (although state dependant) lags New Zealand by 2-3 years i.e. they are experiencing Auckland's 2013 level inflation -

    Quote Originally Posted by speights boy View Post
    So it is cheaper for us Aucklanders then lol

  6. #6

    Default

    Quote Originally Posted by genius View Post
    So it is cheaper for us Aucklanders then lol
    You think Ozi property cheaper?

    Coogee apartment sells for more than $500,000 over reserve


  7. #7
    Join Date
    Mar 2015
    Posts
    133

    Default

    I'm not saying it's cheaper - it was obviously a joke lol

  8. #8
    Join Date
    Jun 2004
    Posts
    10,309

    Default

    Quote Originally Posted by chrisgoh View Post
    I love this guy, exactly my sentiments...

    House prices represent success in life
    He is just an opinionated wally.
    Often has trouble sticking to facts.

  9. #9
    Join Date
    Jul 2012
    Location
    Tavua, Fiji
    Posts
    3,347

    Default

    Your question is actually about currency speculation that is not a reason to buy a proper internationally. Given OZ economy is in decline it is arguable that you shouldn't buy there for another year or so at least till you see how far their prices slide, (if they do)

  10. #10
    Join Date
    Nov 2008
    Posts
    1,046

    Default

    Also extra costs to take into consideration (stamp duty-etc etc.)


 

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