PHOTO: NZ versus Australia. ONEROOF
1. Australia has “got very, very low listings, which haven’t really increased over the last couple of years whereas NZ’s have.
2. Sydney’s tight rental market could be contributing to demand because sometimes mortgage payments are cheaper than rent.
3. The Reserve Bank of of New Zealand has lifted the cash more aggressively than the RBA has lifted its cash rate.
4. Australia has a broader range of property types, too, which means there’s more accessible entry points for any type of buyer, and there are also affordability differences between the countries.
5. Australia has had a strong bounce back and the return of overseas migration since we reopened our borders in February last year. “Net overseas migration for this financial year is forecast to be 400,000 and historically our pre-Covid decade average was quoted at 215,000.
Australian Property: How Much You Can Expect To Pay
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