Real Estate in Auckland, New Zealand
Last updated on Apr 01, 2023
Summary: The average cost of a nice 2 bedroom home in Auckland, New Zealand is around NZ$800,000 (US$527,000). A nice 3 bedroom home in Auckland is around NZ$1,000,000 (US$660,000). These properties typically include modern amenities such as open plan living, modern kitchens, and bathrooms. They may also include outdoor areas such as decks, patios, and gardens. Foreigners are allowed to purchase property in Auckland, however there are restrictions on the type of property that can be purchased. For example, foreigners are not allowed to purchase property that is classified as “sensitive land”, which includes land that is of cultural or historical significance. When searching for a home to buy in Auckland, an expat should consider their budget, desired location, and the type of property they are looking for. It is also important to research the local market and understand the current trends in the area. The most desirable neighborhoods in Auckland include Ponsonby, Grey Lynn, Herne Bay, and Parnell. These areas are known for their vibrant culture, excellent restaurants, and close proximity to the city center.
How do I find a place to live in Auckland?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One of the best ways to find a place to live in Auckland is to use online resources such as real estate websites. These websites allow you to search for properties in specific areas and filter your search by price, size, and other criteria. Additionally, you can contact local real estate agents who can help you find a place that meets your needs. You can also look for rental listings in newspapers and online classifieds. Finally, you can also ask friends and family who live in Auckland for recommendations," said one person in Auckland.
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William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.
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What is a typical expat home or apartment like in Auckland?
"Expat homes and apartments in Auckland are typically modern and spacious, with plenty of natural light and open-plan living areas. Many of the apartments have balconies or terraces with views of the city skyline or the surrounding hills. The apartments are usually well-equipped with modern appliances and amenities, and some even have access to a swimming pool or gym. Expats can also find homes with gardens, allowing them to enjoy the outdoors in their own private space," said one expat who made the move to Auckland.
William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.
William Russell's private medical insurance will cover you and your family wherever you may be. Whether you need primary care or complex surgery, you'll have access to the best hospitals & doctors available. Unlike some insurers, we also include medical evacuation and mental health cover in our plans (except SilverLite). Get a quote from our partner, William Russell.
What is the average cost of housing in Auckland?
If you are thinking about moving to Auckland, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Auckland is quite high compared to other cities in the country. The median house price in Auckland is around NZ$850,000, which is significantly higher than the national median of NZ$550,000. Renting in Auckland is also expensive, with the median weekly rent for a three-bedroom house being around NZ$550," remarked one foreigner who made the move to Auckland.
Should I buy or rent a home in Auckland?
If you have not spent a lot of time in Auckland, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Auckland can be a great investment, as the city is known for its strong real estate market. However, it is important to consider the cost of buying a home in Auckland, as well as the cost of living in the city. Renting a home in Auckland can be a more affordable option, and can provide flexibility if you are not sure if you want to stay in the city long-term. Additionally, renting can give you the opportunity to explore different neighborhoods and find the best fit for you. Ultimately, the decision to buy or rent a home in Auckland will depend on your individual needs and financial situation," said one expat in Auckland.
What do I need to know when buying property in Auckland?
When we asked expats what advice they would give a foreigner before buying a property in Auckland, they said:
"1. It is important to research the area you are looking to buy in, as well as the local market, to ensure you are making a sound investment. 2. Consider the cost of living in the area, including taxes, insurance, and other fees. 3. Make sure you understand the legal process of buying property in New Zealand, including the steps involved and any associated costs. 4. Consider the potential for capital gains and rental income when making your decision. 5. Ensure you have the necessary funds available to cover the purchase price and any associated costs. 6. Seek professional advice from a lawyer or real estate agent to ensure you are making the right decision," explained one expat in Auckland.
Are foreigners allowed to own property in Auckland?
When we asked expats what advice they would give a foreigner before buying a property in Auckland, they said...
"Foreigners are allowed to own property in Auckland, but there are certain restrictions and requirements in place. In 2018, the New Zealand government introduced the Overseas Investment Amendment Act, which aims to protect the country's housing market and ensure that New Zealanders have access to affordable homes. Under this legislation, foreigners who are not residents of New Zealand are generally not allowed to purchase existing residential properties. However, they may still be able to buy new properties or vacant land for development, provided they meet certain criteria and obtain consent from the Overseas Investment Office (OIO). Foreigners who hold a New Zealand resident visa and have been living in the country for at least 12 months may be eligible to purchase residential property without OIO consent. Additionally, Australian and Singaporean citizens are exempt from these restrictions due to existing free trade agreements. In summary, while foreigners can own property in Auckland, they may face restrictions on purchasing existing residential properties and may need to obtain consent from the OIO for certain transactions," said one in Auckland.
What appliances are typically included in a rental?
We asked foreigners in Auckland what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"A rental property in Auckland typically includes a refrigerator, stove, oven, dishwasher, washing machine, and dryer. Other appliances such as microwaves, toasters, and kettles may also be included," explained one person living in Auckland, New Zealand.
Additional Information about Searching for a Home in Auckland:
We asked foreigners in Auckland what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats searching for homes in Auckland often begin by researching the housing market and popular neighborhoods online. They may use local real estate websites, such as Trade Me Property or realestate.co.nz, to browse available listings and compare prices. Additionally, expats may join online forums or social media groups dedicated to living in Auckland, where they can ask for advice and recommendations from fellow expats and locals. To get a better understanding of the neighborhoods and properties, expats may visit Auckland in person to explore different areas and attend open homes. They can also work with local real estate agents who have experience assisting expats in finding suitable homes. These agents can provide valuable insights into the local market and help expats navigate the home-buying or renting process. Expats may also consider renting a short-term accommodation, such as a serviced apartment or Airbnb, while they search for a more permanent home in Auckland. This allows them to familiarize themselves with the city and make a more informed decision about where they want to live. Finally, networking with other expats and locals can be a valuable resource in finding a home in Auckland. Personal connections may lead to off-market opportunities or recommendations for trusted real estate agents and property managers," explained one expat in Auckland.
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
Additional Information:
- Expat Guide to Auckland
- Best Neighborhoods for Single Digital Nomads Living in Auckland
- Pros & Cons of Living in Auckland
- Best International Schools and Bilingual Schools in Auckland
- 7 Weekend Getaways for Digital Nomads Living in Auckland
- Best Bookstores and Libraries in Auckland
- Fun Classes for Expats Living in Auckland
- Public Transportation in Auckland
- Best Markets in Auckland
- Retire in Auckland Guide
- 7 Tips for Living in Auckland
- Pros & Cons of Living in Auckland
- Tips for Expats Driving in Auckland
- Cost of Living in Auckland
- Health Care in Auckland
- Discover the Best of Auckland
- Healthcare & Health Insurance in New Zealand
- Best Places to Live in New Zealand
- Pros & Cons of Living in New Zealand
- How to Enroll Your Children in School in New Zealand
- Pros and Cons of Living in New Zealand 2024
- 2024 Guide to Moving to New Zealand