Relocating Kiwis Push Up Premium Property Prices
The increase is likely attributed to internal migration to these regions, as affluent Kiwi buyers relocate for lifestyle, space and quality new builds.
New Zealand Sotheby's International Realty managing director Mark Harris says buyers are looking to these regions as they seek more in a property; whether it's more land, more features or a larger home.
'Many buyers at the moment are less focused on the postcode and more interested in the features of a property,' he says. 'What you pay for a villa in Grey Lynn might buy you a lifestyle block with a swimming pool in Selwyn. With the digitisation of the workspace, lowering interest rates and better roads and transport – particularly in Canterbury and the Waikato in relation to city and airport accessibility – it's never been easier for Kiwis to relocate.'
In Selwyn, the population has grown by 19,381 internal relocators between 2018-2024, driving a 44% rise in median property prices to nearly $800,000 and a significant increase in homes selling above $2 million – a price point rarely seen there just a few years ago. In comparison, just seven homes sold for over $2 million in 2018, yet in 2024 there were 44 sales over $2 million – an increase of more than 500%.
'The wider Canterbury region is seeing a resurgence in interest, and in Selwyn, people are excited about the prospects of the area, now that it has re-established after the earthquake,' says Harris. 'It has good schools, jobs, lifestyle and is good value in comparison with the more traditionally sought-after suburbs of Merivale and Fendalton.'
A similar trend is emerging in the Nelson-Tasman region, where lifestyle estates and coastal homes are now commanding higher prices. The region has welcomed 2,740 Kiwis relocating from other areas of NZ between 2018 and 2024, and it has consistently experienced solid year-on-year price growth of around 5.5%. High-end, $2 million-plus sales in the region have nearly tripled since 2018.
'These are not just statistical gains, they're people making intentional moves, often mid-to-upper income earners seeking quality of life,' says Harris. 'Our Nelson office has had one if its best six months on record, with the volume of sales up and some significant prices being achieved in the area.'
The Waikato has also experienced a surge in domestic migration; 10,475 internal people moved to the region between 2018-2024. Sales of $2 million and over hit record highs in 2021, and while there's been some correction, 2024 still outperforms pre-Covid levels, with a steady average yearly increase in the median sales price by over 5%.
Harris says many Kiwis are viewing the Waikato as a viable place to live due to improved road and transport connectivity with Auckland.
'The Waikato is also seeing a good pick up in results after a tough few years,' he says.'Cambridge and Tamahere are where young families are establishing themselves on lifestyle blocks close to great schools, with enough room for pools, animals and orchards, yet still close to Auckland and the coastal beaches.'
About New Zealand Sotheby's International Realty
New Zealand Sotheby's International Realty (NZSIR) is a specialist agency that focuses on the sale of premium property through quality marketing and global networking. Founded in 2005 by Mark Harris and Julian Brown, the NZ branch of the global company has 28 offices nationwide – Northland, Auckland Ponsonby, Auckland North Shore, Auckland Remuera, Auckland Eastern Bays, Auckland South East, Waiheke Island, Hamilton, Cambridge, Rotorua, Taupō, Napier, Ahuriri, Havelock North, Palmerston North, Masterton, Greytown, Kapiti, Wellington, Hutt Valley, Nelson, Marlborough, Christchurch, Wānaka, Arrowtown and its head office in Queenstown. It also has an Australian office in Melbourne, Victoria.
NZSIR is part of Sotheby's International Realty – the world's leading luxury real estate company – with a global network of approximately 1,110 offices and more than 26,000 affiliated independent sales associates throughout 84 countries and territories. It is through this unparalleled luxury network that NZSIR is able to access and market properties on an international level. In 2022/2023 NZSIR was named Best International Real Estate Agency Asia Pacific (5-20 offices) at the International Property Awards and recently won Best Property Agency/Consultancy New Zealand at the 2025 International Property Awards for the Asia Pacific region.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NZ Herald
2 hours ago
- NZ Herald
Covid spending can be justified, despite Treasury report
Coverage of this report has focused on an implication that Treasury were opposed to much of the Covid-19 response and had sought to limit the extent of Government spending. Others have noted that the report does not say this directly, though the selective quotes from advice at different stages do not exactly discourage this reading. In the interests of full disclosure, I was an adviser to the Minister of Finance Grant Robertson from December 2020 onwards. Unsurprisingly, my perspective often differed from Treasury (which in some ways was a key required skill for that job), and readers may reasonably take that into account in the criticisms that follow. The risks highlighted in the report around the use of fiscal policy tend to underline the view that 'cyclical management should mostly be left to monetary policy run by an independent central bank'. This is not a new position – it is such an established aspect of economic orthodoxy that it is known as the 'consensus assignment'. Finance Minister Grant Robertson during the pandemic. Photo / Pool Why, then, would we use fiscal policy in response to a shock? Recent decades have seen very low interest rates, and therefore situations where central banks cannot cut rates to the level they believe necessary to support the economy. This issue is known as the 'effective lower bound' and was one of the major preoccupations of economic debates following the global financial crisis. However, it was clear that Treasury had done limited thinking on how fiscal policy should be used in a crisis. This was despite the fact that the official cash rate was just 1% as the pandemic approached. I recall my surprise at being briefed on a work programme to review Treasury's macro-economic framework – thinking that I would have assumed it had already taken place sometime in the previous decade. At different stages Covid-19 required spending to support overall economic activity (i.e. stimulus) as well as more targeted spending for workers and businesses directly affected by lockdowns. The LTIB notes that Treasury did support large-scale spending responses in the initial stages, but then 'advised shifting towards more targeted fiscal support and recommended against further stimulus from Budget 2022 onwards'. Covid-19-related supports had continued during this period, because large numbers of New Zealanders continued to be affected by Covid-19, most notably during the Auckland lockdowns. But the purpose of this spending was to support people and businesses during a time when normal economic activity was not possible, not to stimulate more economic activity. Despite the large initial cost of the wage subsidy scheme in 2019/20, the largest year for Covid-related spending was actually 2021/22, owing to the combination of business support programmes and the ramping up of the national health response. Former Beehive staffer Toby Moore. Photo / Supplied A further, separate category of spending is funding allocated through the Budget operating allowance, which is typically a mix of new spending and the increased cost of existing spending (cost pressures). In late 2021, the operating allowances for upcoming budgets were increased compared to what was previously signalled. Treasury has at times raised concerns that adjusting future allowances might undermine credibility; however, it was not an uncommon occurrence for parts of Treasury to raise such concerns and for other parts of Treasury to put advice to the Minister suggesting that allowance should increase. It is important to understand that budget allowances are not an end in themselves. Adhering to previously planned allowances come what may does not amount to a sensible fiscal strategy, and governments tend to put more focus on whether those allowances are contributing to them keeping debt or deficit levels in line with their intended objectives. The operating allowance for Budget 2022 was large, at $6 billion. But based on forecasts at the time, that level of spending was consistent with Government debt peaking at a much lower level than earlier forecasts, and the Government's books returning to surplus much earlier, in 2023/24. At the point Treasury states that they were not advising further stimulus, this was very much the Government's view as well. Economic and fiscal forecasts were looking much different from mid-2022 onward, and the economy continued to slow as the Reserve Bank tightened interest rates in response to rising inflation of the sort that was experienced around the world. While larger proportions of budget spending during this period were trying to maintain existing public services in the face of high levels of inflation, the other side of this story is the fact that forecast tax revenue has continually failed to eventuate. Prime Minister Jacinda Ardern during the pandemic. Photo / Mark Tantrum Ahead of Budget 2024, Nicola Willis alluded to a further downgrade in economic and fiscal forecasts, saying 'Sadly, I've learned to dread what comes out of the forecasters' mouths when they come into my office'. If nothing else, this is a sentiment shared across successive offices of the Minister of Finance. Repeated downward revisions of the tax-to-GDP ratio over time means that Budget 2025 forecasts for the current fiscal year are a full 3.3% of GDP lower than what forecasts in mid-2022 had anticipated. This has contributed to OBEGAL surplus getting pushed further out in the forecast period (and more recently, only showing surpluses on the Government's self-invented measure, OBEGALx). If decision-makers had cared only about inflation and nothing else, fiscal policy could potentially have done a lot more to reduce economic activity. With the Government not willing to resort to tax increases, more contractionary fiscal policy would have meant absorbing more of the burden of constraining demand through deteriorating public services, with the Reserve Bank having to do less through the OCR. Given the ongoing pressure on the health system today, we should be glad this was not the path that was taken. But far from being critical of this Budget spending, Treasury was also raising concerns that spending was not high enough. In the half-year update in 2022, Treasury expressed concern about what it described as the largest fall in real government consumption since 1987. As late as October 2022 Treasury was advising the Minister of Finance to increase the allowance for the next Budget from $4.5 billion to $5b. This incongruous array of advice was not a matter of mutinous radicals seizing control of the Government's lead economic adviser. Treasury was trying to tread the same narrow path that the Government was. The economy as a whole was hitting up against its capacity, and vulnerable New Zealanders needed targeted support towards the cost of living. Every dollar of additional spending risked adding to inflation and every dollar of spending that was withheld meant that rising costs would hit core government services or households directly. It is appropriate that we try to learn lessons from the experience of Covid-19. It is reasonable for people to disagree with some aspects of the fiscal response and it is highly unlikely that every decision taken was the right one. But the economic response was overwhelmingly guided by officials' advice rather than contrary to it. There may now be unease among some public servants about the level of debt that New Zealand assumed or the spending pressures that it is facing. But the other side of that debt is the businesses that are still operating, the people who were kept in work and the loss of friends and family members that were avoided because NZ chose to support each other through that most complex and challenging time. Toby Moore is a doctoral candidate at Te Herenga Waka - Victoria University of Wellington and was previously a senior adviser to former Finance Minister Grant Robertson. He is also on the Labour Party's policy council, though the views here are his own
NZ Herald
2 hours ago
- NZ Herald
Jamie Beaton's new venture Concord Visa aims to simplify US visa pathways for Kiwis
Concord charges between US$6500 ($10,912) and US$10,000 to shepherd an individual through a O-1 application, which Beaton says can potentially be approved in just over a month ('Concord' is a reference to speed). The price is pitched as being around 40% the rate charged by a law firm specialising in immigration (the traditional route). The US$10,000 tier offers more assistance 'building your profile'. Chance meeting As with Crimson, Concord was born in part out of Beaton's own experience, after earning the first of his (now half dozen) US post-graduate degrees at Princeton. 'When I first came to the US, I was on the F1, the student visa. And I wasn't really sure how one stays in the US post-degree for an extended period of time,' Beaton said. 'Getting an O-1 visa was totally random. I bumped into a fellow Kiwi entrepreneur, Divya Dhar, who mentioned she's secured a green card through this mystical process. After going through the application, I managed to land my visa, enabling me to build Crimson at full speed." Beaton said even with the serendipity of meeting Dhar, it was a slog, with around 200 pages of paperwork, and, as with trying to penetrate the Ivy League, it can be hard for a novice to navigate the best path. He sees a 'massive information barrier', now compounded by a growing AI slop of misinformation online. The New Zealander still has an O-1, today, which he's renewed several times. He says once you've secured it, the visa is relatively straightforward to renew. Beaton co-founded Concord with Kevin Park, a fellow Auckland University grad who is familiar with the ins and outs of immigration through his former role as Crimson's shock trooper, setting up beachheads in a series of countries during the firm's early days. "Trump is throwing visa bombs left, right and centre,' says Jamie Beaton (left), here with Concord Visa co-founder Kevin Park. 'Crimson went from one country to 20 really fast, with plenty of messy chaos, with Kevin and many other great folks leading the charge to go through that baptism by fire.' 'Trump throwing visa bombs' There's plenty of messy chaos in the US now, of course – though these days it's more likely to emanate from the White House. Beaton says Concord recently helped a crypto entrepreneur from China gain a visa to build his firm in the US. 'It's really exciting to see cases like this, especially as Trump is throwing visa bombs left, right and centre,' Beaton says. 'A lot of our families are very keen to have clarity as to what a multi-year journey looks like in America or other countries, and this is really designed to be that next step in the Crimson journey for them.' Park says it's important to get all your paperwork correct. But, as with trying to get into Harvard or Yale, it's also a matter of putting together the right 'narrative' for the talent-based O-1, which is often restricted to around 10,000 people each year. Park says Concord offers more than 10 types of visas, including those in various skills shortage categories, and will match a candidate to the best type. His pitch is that traditional immigration advisers are often used to dealing with the requirements of big corporates. He and Beaton are more savvy about the potential quirks and complications of smaller firms, like Silicon Valley startups, where a funding round or change of ownership can pull the rug out from under an E2 visa (a business investment and employee transfer visa that has been another traditionally popular way for Kiwis to set up shop in the US). A venture capital round that brings in a range of international investors would see a US-based firm majority-owned offshore, and an E2 visa holder suddenly asked to leave the country within 60 days, Park says. The firm also helps with immigration into Australia, Britain and New Zealand. Beaton says the business is a natural extension of Crimson, which has helped 'several thousand' students secure F1 visas. Although only up and running for a few months, Concord has already helped more than 100 people secure US visas, Beaton and Park say. Their hero client is Auckland brand-tracking start-up Tracksuit, which has been pushing into the US after a $42 million raise this year. Inside help It also helped the East Auckland-raised Wayne Zhou secure an O-1 visa for his move from Australia to the US as his Silicon Valley-based startup staged a US$20m Series A raise. Macleans College old boy Zhou has quite the backstory. He enrolled at the University of Sydney but was only two years into a seven-year path to a Doctor of Dentistry ('my immigrant parents' dream') before he dropped out. Zhou had been running a recruitment consultancy as a side hustle. 'I was basically helping my friends get jobs in the best industries; in finance, investment banking and professional services,' he says. 'Ruler', as he called his careers platform, blossomed during his second year, as the 2020 Covid lockdown hit – to the point where he left university. Crimson acquired Ruler in 2022, and Zhou stayed on until mid-2023, until striking out on his own again to form a fintech called Verve. 'It flopped,' he says. A year ago, he founded Paraform, 'a recruiting marketplace that connects companies with a network of specialised recruiters to fill their hardest roles'. With backing from the founders of Canva, among others, his start-up quickly grew to 40 staff, with plans for 100 by year's end. It's a roller-coaster story, especially for someone yet to hit 30. But how should it be framed in a bid for an O-1 talent visa? Zhou says the Concord consultant assigned to him had previously worked on the other side of the fence, where she had conducted more than 10,000 visa interviews while with the US Embassy in Australia. Chris Keall is an Auckland-based member of the Herald's business team. He joined the Herald in 2018 and is the technology editor and a senior business writer.
Scoop
12 hours ago
- Scoop
Exporter Confidence Holds Strong Despite Trade Tensions, According To Export NZ DHL Export Survey
The majority (two-thirds) of New Zealand exporters have increased or maintained their export levels over the previous 12 months Concerns about an ongoing international trade war have increased, but exporters are looking to diversify and mitigate the effects of possible future tariffs Auckland, New Zealand, 13 August 2025: Despite rising global trade tensions and looming tariff changes, New Zealand exporters remain optimistic and resilient, with two-thirds (79%) maintaining or growing their export volumes over the past year, according to the 2025 ExportNZ DHL Export Barometer. The annual survey, which tracks exporter sentiment and trends, reveals that 59% of Kiwi exporters expect to increase their exports in the coming 12 months, even as concerns over trade wars and proposed tariffs intensify. Selina Deadman, Vice President, Commercial at DHL Express New Zealand said, 'It's encouraging to see that the majority of New Zealand exporters have continued to ship internationally over the past year. International trade has faced increased scrutiny due to upcoming barriers, it's a positive indication that exporters are optimistic about cross-border trade, and it will be interesting to see how these expectations evolve in 2026. This also reflects the confidence that DHL Express has in globalisation and its importance in economic growth.' Recent trade policies enacted by the USA have dominated headlines this year. When this survey was completed, New Zealand was at the baseline 10% tariff level and the elimination of the 'de minimis' was scheduled for 2027. This resulted in 53% of survey respondents remaining relatively focused on the US market through 2026. However, now that New Zealand's reciprocal tariff has increased to 15% and the elimination of the 'de minimis' has been brought forward to August 2025, the rest of the year will serve as a test to that exporter confidence. Advertisement - scroll to continue reading Executive Director of ExportNZ Joshua Tan said exporters who may be affected by proposed tariffs have sought to diversify by entering other markets. 'This year's survey results show strongly that Kiwi businesses are considering new markets outside their traditional, with the likes of the United Kingdom (41%) and Japan (27%) both seeing an increase of 4% in exporter interest. In the case of the UK, this shift is likely influenced by the New Zealand-UK Free Trade Agreement, which came into effect in mid-2023 and is starting to deliver outcomes'. Exporters identified the largest barriers to exporting as the cost and availability of transport and logistics (49%), as well as the high cost of doing business in New Zealand (31%). However, the most notable shift from last year was a sharp rise in concern over an escalating trade war, cited by 27% of respondents. 'Increased concern around trade wars becoming a barrier was expected, with a 15% rise from last year. Concerns over high tariffs due to a lack of trade agreements also saw a 7% increase,' said Tan. Exporters remain divided on the level of external support they were willing to accept, with a quarter (25%) of respondents saying they didn't require any assistance from NZTE in overseas markets. Meanwhile, 22% indicated they would like more help, with 20% seeking support for R&D and another 20% wanting access to market research. In this year's survey, exporters voiced strong support (32%) for 'More Free-Trade Agreements with new partners', alongside 'Support for attending trade shows' (32%) as the most desired forms of government assistance to help boost export activity. The full 2025 ExportNZ DHL Barometer Report will be released in late August, following an online webinar on Wednesday, 20th August, hosted by DHL and ExportNZ. Speakers Selina Deadman and Joshua Tan will discuss the key findings of the report and provide exporters with advice on how to reduce their exporting costs. Further information on the upcoming webinar can be found on DHL Discover. 2022 Export Barometer Report 2023 Export Barometer Report 2024 Export Barometer Report About the ExportNZ DHL Export Barometer A joint initiative between ExportNZ and DHL, a total of 333 New Zealand exporters were surveyed for the 2025 ExportNZ DHL Export Barometer. The ExportNZ DHL Export Barometer is an initiative aimed at analysing export confidence in New Zealand and identifying export trends. It is based on nationwide research, examining the business outlook of exporters, highlighting changes in overseas market demand, and providing insights into the factors impacting New Zealand's export trade. The research was conducted between 01 June and 30 June 2025. The increase in participation was accounted for mainly by an upsurge in the number of responses from the Auckland region. The number of responses from Canterbury remained unchanged, but the number from the Wellington region fell. There was also an increase in the number of sole-traders and small businesses participating. As in previous years, the respondents were most likely to have been in business for more than 20 years, but there was also an uptick in the proportion of those who had been in business for 10 years or less. DHL – The logistics company for the world DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With approximately 400,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as 'The logistics company for the world'. DHL is part of the DHL Group. The Group generated revenues of approximately 84.2 billion euros in 2024. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. DHL Group aims to achieve net-zero emissions logistics by 2050.
