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Sydney has the third least affordable housing market in the world, according to the latest Demographia report. She and her Sydney-born husband felt they weren’t getting ahead financially in New Zealand, and decided to cross the Tasman in 2007.
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“We plan to stay here at least until retirement.”īrisbane-based Bec Borg is another Kiwi who moved for economic reasons. They would not have been able to do the same so easily and for such a reasonable price in New Zealand, she said. And we have been able to build a brand-new house near the beach, with a view of the sea, for $490,000.” “My husband’s job, and the salary and lifestyle it allowed, was the big attraction for us.We have been a single-income household for most of our time here, but we have travelled widely. She said she loved living in New Zealand, and wouldn’t have moved to Australia if it hadn’t been for the Global Financial Crisis. Marge Riggs’ move to Perth from Christchurch eleven years ago was also due to her husband getting a new job. I think we have much better value for our money.”
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“He paid $650,000 and the property is a bit ordinary, plus it is 25 kilometres away from Taupō itself. Swanson-Hoyle said her New Zealand-based son bought a property with the same acreage as theirs in the Taupō area in 2019.Īustralia has many attractions which out-weigh those of New Zealand, ex-pat Kiwi Lorraine Swanson-Hoyle says. None of their properties have cost over $350,000, and their current home is valued at around $480,000. They now live on a six-acre lifestyle property about two and a half hours away from Melbourne. Since then, they have bought and sold two more times and have no plans to return to New Zealand. One of the government incentives - the First Home Owner Grant (of $10,000) - helped the couple to buy and build their first home.
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Plus the lifestyle is great,” Swanson-Hoyle said. “There’s good working conditions, particularly in terms of wages/salary, the tax rate is better and there are good Super schemes and government incentives. Even after that contract came to an end, Australia’s attractions were such that they stayed. Originally from Tirau, she and her husband moved because he took up a contract with a large company that paid for their move. Lorraine Swanson-Hoyle has been living in regional Victoria since 2003. Stuff talked to a selection of property-owning Aussie-New Zealanders and, although none had moved to enter the housing market, some clear themes around the attractions of Australia emerged. Migration decisions are often about the ability of people to get ahead, economist Cameron Bagrie says. Over half a million New Zealanders currently live in Australia and many of them are staunch advocates for their adopted country and what it has to offer - including easier access to housing purchases. But we might also see a bit of a flow of Kiwis to Australia.” “There’s a common view at the moment that post-Covid there will be all these people rushing to get into New Zealand, and we could see that. The bottom line is that Australia is bigger in size and scale than New Zealand and that makes for more opportunities right across the board, he said. If the ledger is skewed towards Australia on that point, then it will impact on people’s decisions.” “It’s really about the ability of people to get ahead, and housing plays a big part in that equation.
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* An economy built on rising house prices: Is property our path to recovery?Īnd, in recent weeks, long-time housing affordability campaigner Hugh Pavletich has stepped up warnings that affordability concerns could prompt young people to move to Australia in search of cheaper housing.Įconomist Cameron Bagrie, of Bagrie Economics, said that, historically, relative economic performance has always been the big driver of migration flows between New Zealand and Australia. * The key housing questions Grant Robertson should be asking Adrian Orr * House asking prices up nearly $90K in 'completely out-of-control frenzy' NZ has been a safe haven in a pandemic-ravaged world, but could we see a new Kiwi “brain drain” to Australia post-Covid?