Buy property in New Zealand
Australia and New Zealand have strong ties, making it pretty common for Australians to choose to settle in New Zealand and buy a home there. As an Australian passport holder you can buy property in New Zealand to live in with no need for any special permissions in most cases, allowing you to purchase your new home easily enough. However, as buying a property – particularly overseas – is a big investment, there are still some important factors, including costs, to consider.
This guide walks through how to buy a property in New Zealand as an Australian citizen. Plus, we’ll also introduce providers like Wise and OFX as smart ways to make cheap, fast and safe international transfers, to help you buy your new property without losing out on FX fees.
Can Australians buy property in New Zealand?
There are fairly strict rules about who can buy property in New Zealand, to manage availability and pricing of housing. Generally you can only buy a place there if you’re a resident or citizen – non-residents can not automatically buy property.
If you’re an Australian citizen you can usually buy property in New Zealand without needing to get special permission as long as you intend to live there. If you’re not yet a resident of New Zealand you will need to apply to the New Zealand Overseas Investment Office for consent, commit to live in New Zealand for at least 183 days in the following year, and be a tax resident.
Citizens of other countries may need to apply for permission to buy a property in New Zealand.
What are the requirements to buy a property in New Zealand?
As we’ve seen, property in New Zealand can usually only be purchased by New Zealand residents and citizens. There are also some areas which are designated as sensitive, and where you’ll need to get permission even if you’re a resident. These areas include certain islands, coastal areas and places in national parks or protected areas. Your real estate agent can guide you through the process of checking if a property is in a sensitive area – the certificates and details of classification are usually available online through the Land Information authorities.
How to buy a home in New Zealand: step by step
The New Zealand government publishes a series of different buying guides which can help you navigate the process of buying a property. There are several different routes including buying by auction, tender or by making a direct offer to the seller. We’ll walk through the common steps needed here, and you can also look up specific advice on the purchase route which applies in your case, on the New Zealand government website.
Here’s how to buy a home in New Zealand, step by step:
1. Set a budget and get a lawyer lined up to handle the legal aspects of your purchase
Once you’ve decided on how much you have to spend, and where you’ll focus your search, you’ll need to start to get a local support team in New Zealand to manage the property purchase. This will definitely require you to find a lawyer, but you might also want to think about researching property inspectors at this stage so you have one lined up for when you find the perfect place.
2. View properties and shortlist places which may suit your specific needs
You can research properties online and through a real estate agent, and arrange visits and viewing. Be sure to find out as much as you can about any property to help inform your research, and to narrow down your options.
3. Complete due diligence checks with the help of your lawyer
Your lawyer and real estate agent will help you with some important checks once you’ve decided where to buy. This includes checking title deeds for the property and also ensuring that you understand the risk of natural events like earthquakes, based on your property location. There have been some historic issues with building materials used in the construction of homes in New Zealand, which the government warns home buyers about – so you’ll need to make sure to look out for Dux Quest piping, Weatherside cladding and asbestos which are particularly picked out as common issues.
The New Zealand government also suggests anyone purchasing a home in the Canterbury region takes particular care to check for earthquake damage – your property inspector can guide you on this point if relevant.
4. Make an offer – this may be conditional or unconditional
Once you’re sure you want to buy, you can make an offer to the seller. It’s important to note that once an offer has been accepted it is legally binding. That means that if you subsequently withdraw from the deal, you may be subject to penalties.
Offers on property in New Zealand may be conditional or unconditional, which allows you to decide if there are certain conditions – like having your finance approved or a property inspection – which must be met to facilitate the purchase.
5. Prepare for settlement day – and get your keys
Your agent and lawyer will now work together to complete the legal side of your purchase, and you can set a date for settlement day. On settlement day you’ll need to pay the outstanding amount, and you can get your keys ready to move in.
How much does it cost to send money to buy a house in New Zealand?
If you’re sending a high value payment from Australia to New Zealand – for the downpayment on a property, for example – getting a service which has low fees and excellent exchange rates is essential. Fees apply to international transfers – but they’re not always obvious. This can mean you’re paying more than you expect to transfer money overseas.
Let’s take an example of sending a payment of 50,000 AUD to New Zealand, to be received in NZD. The best way to compare the overall costs is to look at how much the recipient gets in the end, rather than the fee you’re charged. This allows you to see the impact of the exchange rate on the overall cost.
To illustrate, here’s how much you’d get when sending 50,000 AUD with Wise compared to ANZ:
| Sending 50,000 AUD to NZD | Sending money with Wise | Sending money with ANZ |
|---|---|---|
| Amount received | 53,097.48 NZD | 51,773.28 NZD |
| Send money fees | 177.83 AUD | 0 AUD |
| Exchange rate | Mid-market rate | Exchange rate includes a markup |
Details correct at time of writing – 22nd April 2025
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As you can see, in this case, the recipient gets more with Wise – even though ANZ does not have a transfer fee. That’s because the exchange rate used by Wise is better – the same as the mid-market rate you find on Google. ANZ adds a fee to the exchange rate used to convert your AUD to NZD, which is known as a markup. Markups are usually variable, and may depend on the currencies involved and the value of your payment. You can only see the markup if you compare the exchange rate you’re quoted against the mid-market rate – which can be a hassle. Avoid this entirely by choosing a provider like Wise which uses the mid-market rate and splits out the fees separately so you can easily see them.
How much does it cost to buy property or a house in New Zealand?
The costs of buying a property in New Zealand include the sale price you agree with the seller, as well as any additional fees and charges associated with your purchase. This can include notary fees and legal fees – the real estate agent fees are generally paid by the seller of the property.
Here’s a look at New Zealand house prices, on average, across some popular locations:
| Location | Price per square meter – city center | Price per square meter – outside of city center |
|---|---|---|
| Auckland | 12,762.84 AUD | 10,327.70 AUD |
| Wellington | 10,906.43 AUD | 9,250.47 AUD |
| Christchurch | 6,825.64 AUD | 4,961.04 AUD |
Details correct at time of writing – 22nd April 2025
Don’t forget that in addition to the costs of the property you intend to purchase, you’ll also need to budget for legal costs, taxes and fees. Assuming you’re sending money from Australia to New Zealand to pay for your new home, you’ll also need to take into account the costs of making an international money transfer, including transfer fees and charges which can be added into the exchange rate used for currency exchange. Using a specialist international money transfer provider can help you manage the costs more effectively – here’s a reminder of a couple of options you might want to consider:
Wise: Wise uses the mid-market exchange rate and offers low cost, high-value transfers, with discounts of up to 0.17% on fee costs.
OFX: OFX has no transfer cost and no limit on the amount you can send, but exchange rates can include a markup.
Cheapest places to buy property in New Zealand
You’ll often find that the average cost of housing is cheaper in rural areas and the South Island rather than large cities. However, even in major cities, some suburbs are cheaper than others, so shopping around can help you secure a great place based on your budget and preferences. Invercargill, and in particular its suburbs like Mataura and Ohai is often suggested as a great choice for budget conscious buyers in New Zealand.
Factors affecting the house prices
As with all countries, there are many different factors in play when it comes to the costs of buying a property in New Zealand. Location is extremely important, as well as property type and size. Other factors, such as market pressures, can also make a big difference to the cost of buying a place. As prices change over time, you’ll want to research thoroughly to make sure you have a realistic budget before you start the process to buy a new home in New Zealand.
Ongoing costs of buying a home in New Zealand
It’s important to think carefully about the ongoing costs of running a New Zealand home, which can be different to the costs of living in Australia. Look out in particular for:
- Taxes and rates – although there’s no property tax on a national level, there can be local taxes and rates which vary based on where you choose to buy your property
- Mortgage costs – if you’re using a mortgage loan you’ll end up paying interest which can vary depending on the bank or mortgage broker you choose to use
- Maintenance and repairs – keeping on top of the maintenance of your property is crucial, to ensure you don’t ultimately lose money on your investment
- Utilities – Research the likely ongoing costs to run your home including heating, water and electricity
Is it a good idea to buy a house as an investment in New Zealand?
You’ll likely only be able to buy a property in New Zealand if you intend to live there, which means your purchase can’t purely be an investment. However, the value of your property may change over time – and can go up or down depending on market forces. If you’re thinking of using your property as an investment asset as well as a home, get professional advice to help guide your decisions and minimise risk.
Pros and cons of buying property in New Zealand
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Should you rent or buy a house in New Zealand?
Whether you buy or rent a place in New Zealand will depend on your long term plans. If you’re moving permanently to New Zealand buying a home can be an attractive option – but this may not make sense for a shorter term stay. Bear in mind that if you’ve not been a resident of New Zealand for 6 months you need permission to buy your property, and you’ll have to commit to staying there and becoming a local tax resident.
What’s the property market like in New Zealand?
Historically, house prices in New Zealand hit a high point in 2021, and have subsequently fallen on average before beginning to rise again slowly recently. However, market analysts believe that 2025 could see more steady gains in house prices, with regional variations in the market still showing through. Generally, house prices in Auckland outstrip the costs elsewhere, and here the return to growth is more pronounced. The market does change rapidly though, so do your own research before you commit to a purchase.
Financing a property purchase in New Zealand
You can usually choose to pay for your home purchase in one of the following ways:
- Get a local mortgage in New Zealand – this may be possible depending on the bank you choose and your residency status
- Get a mortgage in Australia – depending on your plans you might also find that banks in Australia can lend you money, particularly if you have assets there
- Use cash – if you’ve sold a home in Australia before your move, for example, you may decide to buy your new place outright
If you need to send money from Australia to New Zealand to fund your property purchase, remember to check the relative costs of using your bank compared to using a specialist service like Wise or OFX. You may find that a specialist is able to offer a better exchange rate, which can make an enormous difference to the overall costs of a high value payment.
Paying property tax in New Zealand
At the time of research there’s no ongoing property tax at a national level in New Zealand, but local governments might have their own taxes and rates to consider. Research the specific costs of your preferred area carefully – your agent or lawyer can help you with this.
Tips for foreigners to buy property in New Zealand
If you’re an Australian citizen you can get a resident visa on arrival in New Zealand, and can buy a property to live in with few restrictions. If you’ve not already been a resident for 6 months at the point you purchase a home, you may be asked to get permission, which will also require you to commit to stay in the country and become a tax resident there. Some specific areas also have their own rules which require you to get permission to buy – this depends on the location and size of the property or land you’re buying.
How to find a New Zealand property
You’ll be able to search for properties using online platforms, real estate agents, and local listings in New Zealand. Generally, the best place to start is to use a popular real estate website which aggregates listings from many different services, and which has easy to use search functions to allow you to find places in your preferred budget and location.
New Zealand property websites
Here are a few New Zealand property websites to help kickstart your personal research:
Conclusion
Usually only residents and citizens of New Zealand are entitled to buy property there. As an Australian you’ll usually be allowed to buy a place with no special permissions as long as you’re a resident of New Zealand and intend to live in your new home. Some other rules may apply, such as the need to seek permission for specific properties based on their size or location – your lawyer or real estate agent will be able to advise you on this when you buy.
This guide gives you a great starting point on your journey to buy a new home in New Zealand, with ideas on where to look, and what you’ll pay. Use this guide to get you started – and because sending a lot of money overseas can come with very high costs, remember to look at providers like Wise and OFX to arrange payments when buying property with fast, cheap and secure international transfers, and good exchange rates.
FAQs on Buying Property in New Zealand
Can foreigners buy property in New Zealand?
Foreigners may need to get permission to buy property in New Zealand, depending on their nationality and residence. As an Australian you can usually buy a home in New Zealand as long as you intend to live in it.
How much deposit do you need to buy a property in New Zealand?
The deposit you have to pay will be negotiated by the seller, and is usually around 20%. A lower deposit of 10% might be accepted in some situations.
Is New Zealand a good country to buy property?
You’ll usually only be able to buy a property in New Zealand if you’re living there – but if you’re moving for work, to study or to live, you can consider buying a new home in New Zealand for your stay.
Can I buy a house in New Zealand if I live in Australia?
Generally if you’re not ordinarily resident in New Zealand you must apply to the Overseas Investment Office for consent to buy a property, commit to live in New Zealand for at least 183 days in the following year, and be a tax resident.
