The Crème de la crème of cities which are cheaper to live in than Auckland
One Roof of New Zealand have recently written an article comparing New Zealand’s house market to other elite cities around the world. Here are some of the results they found:
The best place to buy and receive a bargain is in London in the UK.
London’s average house prices have dropped by 4.4% — to prices below a house in central Auckland’s median sale price…this due to fears brewing of Brexit.
The London price is $845,305 in NZD — this compared to Auckland City of $980k, Auckland North Shore of $1,035,000 and Queenstown at $1,005,000.
Different suburbs within London also offer varying deals — Southwark, Barnet and City of London — being the key places to watch for. All three are cheaper than the median price in 52 of New Zealand’s suburbs.
Hong Kong is one of the three most expensive cities in the world to try and buy a home in. The average house price sits at $1.77 million (NZD) and residential prices have been rising every year.
Compared to this, there are still nine suburbs in NZ which top this price, however you do largely get what you pay for — with aspects such as inner city accessibility and glorious views.
Vancouver in Canada, has an average house price of $1.2 million (NZD) — this being cheaper than 85 different kiwi suburbs.
Sydney, with the famous Opera House, in Australia sits at $1 million — cheaper than 166 suburbs.
The average house price in Paris, the famous city of love in France, which also sits among the top three cities in the world to live in, is deceivingly cheaper than 216 kiwi suburbs, at $929k (NZD)…however, you’re paying big money for size. An outstanding property on the Champs-Elysees would generally cost around $26,5000 per square metre (NZD) — increasing by 5% this year.
When looking at New York in the United States of America, house prices vary in great diversity depending on which suburb you are looking to buy in.
The key point to note, is that is seems prices at the top end of the market are lowering in price.
Manhattan’s average house price is $2.92 million, Brooklyn sitting just behind at $1.18 million (NZD)…clearly an astounding amount higher than if you choose to buy in NZ.
Brooklyn’s prices are only increasing as well, especially in Williamsburg, with the average house price increasing by 16% this year to just below $1.5 million (NZD).
Where is your dream place to live?