Buying a house in New Zealand is a relatively straightforward transaction. Typically you would find a property that was suitable, contact the agent representing the property and through the agent make an offer to the vendor (seller) of the property. It is rare to negotiate directly with the seller. In New Zealand the commission on a house sale is paid entirely by the seller. Remember; no matter how friendly, the Agent is acting on the seller’s behalf; not the buyer’s.
In a presently hot market, Auctions have become an increasingly popular way of selling.
It is normal to consult a lawyer to represent you in the contractual process, check the property title to avoid any hidden traps and supervise the settlement. You will be responsible for these fees.
You would also be advised to obtain building reports from a registered builder and an independent valuation. Your real estate agent will be able to advise you on the process.
Auckland is ranked one of the most desirable cities in the world and values have climbed above those in other cities and regions in New Zealand. Some locals feel that is a good reason to live outside Auckland but the attraction of a city that is absolutely buzzing remains very strong.
Is this a “bubble”? The result of speculation; of offshore buyers? We don’t know; but dealing with the phenomenon of living in one of the most desirable cities in the world is something new arrivals need to factor into their thinking.