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Brits bewitched by NZ 'paradise'

18/04/2007

The promise of a healthy, fun-loving, affordable lifestyle is attracting more Brits into the NZ property market, reports stuff.co.nz...

A new survey by British currency transfer specialist HiFX revealed that 5 per cent of Britons looking to buy overseas were choosing New Zealand, making it the fifth most popular destination.

France was in top spot at 27 per cent, ahead of Spain (25 per cent), Bulgaria (8 per cent) and Australia (6 per cent).

Mark Bodega from HiFX said the number of British people wanting to move to New Zealand was rising:

"With a typical three-bedroom detached property in New Zealand costing £100,000 ($NZ273,448), no stamp duty or capital gains tax and year-on-year capital appreciation of between 10 to 15 per cent, it's easy to see why so many of us are upping sticks and moving out there for good”.

He added: "New Zealand is a paradise for lovers of the great outdoors, the lifestyle on offer is healthy, fun, and affordable."

New Zealand's national median property price was at a new high of $335,000 in February, having earlier eased from $330,000 in December to $327,000 in January.