Local Real Estate
New Zealand Local Real Estate
Looking to buy real estate locally in New Zealand? We take you through the process of finding local real estate in your area and go through the different options available to a prospective purchaser. In addition we'll take a look at the property market in New Zealand's main centres: Auckland, Wellington and Christchurch.
There are several avenues to explore when finding local real estate in New Zealand.
Local real estate agents
The obvious choice for many is to get in contact with a local real estate agent. The advantages of this include:
- They are real estate professionals, looking at property almost every day, and thus will have a comprehensive knowledge of the market.
- They will normally specialise in a certain local area, often one in which they live themselves. This means generally they will have a good awareness of what properties have sold recently in the area, and what prices they have sold for. This will help the local real estate agent advise you on the right properties to look at with regards to your budget.
- Real estate agents will normally have access to an extensive network of possible homes through the wider association of their company.
However it pays to research before you choose a real estate agent in New Zealand, as not all smooth talking agents are as successful as they may appear. Ask acquaintances for referrals, and check with the local real estate agent for their references and recent sales. Keep in mind that the real estate agent is contracted to the vendor of the property (that is, if they are representing them) and in being so have a legal obligation to act in the seller's best interest. This means they will not be capable of offering you, as the buyer, impartial advice.
National real estate companies
Another popular option for finding real estate for sale in New Zealand is to go through one of the major real estate companies. These nationwide real estate agencies will have offices throughout the country and a large network of agents specialising in particular locations and categories of real estate. Big firms in New Zealand include Bayleys, Harcourts, First National, The Professionals, Ray White, Barfoot and Thompson, LJ Hooker and several others. A number of these real estate agents publish their own individual property sales guides containing all their listings in specific areas. These glossy publications are normally available free of charge.
Newspapers and online real estate directories
A large number of New Zealanders still begin their search for property by browsing the property sections of major daily newspapers. New Zealand newspapers are a good place to start, and those looking for realty in a specific locality would be well served to read the local newspaper. However, in recent times there has been a huge shift towards online real estate websites as a tool for prospective buyers. Some research is now indicating real estate websites and the number one method buyers are using to find real estate for sale in New Zealand. You'll find popular NZ property listing and real estate directories on NZS.com.
Key advantages of browsing local real estate online are:
- Homes can be looked at and narrowed down before an agent is contacted.
- Searches can be done for properties with specific characteristics (price, location, bedrooms, garages and heating systems), meaning buyers can be emailed as property meeting their criteria is listed on the website.
- Readership of online real estate websites is increasing rapidly, whilst as a general trend newspaper readership is declining.
Local real estate markets
Local real estate in New Zealand's major centres, Auckland, Wellington and Christchurch, has been an attractive proposition overall during the last several years as growth in most suburbs has continued unabated.
- Auckland real estate is the highest priced of New Zealand's larger cities. Waterfront property over recent years has skyrocketed in price and a number of suburbs have undergone extensive renovation as they become 'trendy'; in particular, many older villa style homes have been given makeovers.
- Wellington real estate has a reputation in New Zealand as being a steady investment, less susceptible to the boom and bust cycles sometimes seen in other centres. This is seen by many to be due to Wellington being the seat of government. The increase in government services, and resulting increase in jobs in the public sector over recent times, has caused a steady influx of workers into the city.
- Christchurch real estate is regarded as the most affordable of the major centres. The international language schools, well regarded university and international airport have contributed to demand for housing in Christchurch being strong over recent times. Christchurch's positioning as 'The Gateway to the South Island' has led to strong growth in local real estate.
Looking for more information? Find New Zealand local real estate in the NZS.com directory.
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Business images from Flickr: Sky Tower, New Zealand Flag and Wellington Buildings.
