{"id":31225,"date":"2021-03-15T13:44:40","date_gmt":"2021-03-15T00:44:40","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=31225"},"modified":"2024-03-01T20:46:49","modified_gmt":"2024-03-01T07:46:49","slug":"new-zealands-property-prices-are-so-cooked-kiwis-want-to-move-to-australia-for-cheap-housing","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/new-zealands-property-prices-are-so-cooked-kiwis-want-to-move-to-australia-for-cheap-housing\/","title":{"rendered":"New Zealand\u2019s property prices are so cooked, Kiwis want to move to Australia for cheap housing"},"content":{"rendered":"

PHOTO: More Kiwis look to Australian shores because of rapidly rising property prices in New Zealand.\u00a0Photo:\u00a0IStock\/huafires<\/span><\/strong><\/p>\n

It is hard to imagine anyone moving to Australia for better housing affordability.<\/p>\n

Let alone anyone moving across the ditch from New Zealand<\/a>, which has become a haven from the coronavirus pandemic this past year.<\/p>\n

But that\u2019s exactly what experts think could happen, with sharp property prices in New Zealand making Australia \u2014\u00a0in the midst of its own rapid market rebound \u2014 seem like a more affordable option.<\/p>\n

Housing affordability concerns could lead to more trans-Tasman migration,\u00a0Stuff reports,\u00a0with experts recently flagging sky high house prices had the potential to push more Kiwis to Australia.<\/p>\n

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The median property value in Auckland is close to $1.2 million. Photo: iStock<\/strong><\/em><\/figcaption><\/figure>\n

While Australia faces its own housing-affordability issues, its price growth has been more subdued than the rapid rises across the ditch in recent times.<\/p>\n

Median property value in New Zealand jumped\u00a02.6 per cent to $827,426 in February, up 14.5 per cent year on year, according to the latest CoreLogic figures show. Meanwhile, home values in Australia climbed 2.1 per cent in February \u2014\u00a0the sharpest monthly rise in 17 years\u00a0\u2014 and 4 per cent over the year to a\u00a0median of $598,884<\/p>\n

In Auckland, the median now sits at\u00a0$1,198,564, after climbing 13.3 per cent over the year, well above the median values in Sydney and Melbourne, at $895,933 and $717,767.<\/p>\n

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