NZ New Zealand IP

Great information. How do you manage your money transfers between Oz and NZ?

 

We don't have any property in NZ at present but I do move money between NZ and OZ regularly due to clients based there. I use Transferwise pretty much exclusively. They are the most transparent provider in terms of rates/fees and I can move NZD->AUD in less than 6 hours account to account.

You can actually set up what they call a "Borderless Account" holding $ in multiple currencies, convert in less than 5 minutes and pay bills or transfer in or out very easily. We have used this when moving money from the US to here and timing the conversion based on rates.

 

@ellejay what's your current view on the NZ market today?

My parents are still investing heavily in our home town in southland, have seen over 20% gains in the last 6-12months due to it being undervalued for a long time. I don't keep my finger on it but I am warning them it wont continue forever and these small towns retract after booms.

Christchurch is now one of the cheapest in nz and with all the redevelopment going on I see a huge amount of value here, of course the earthquakes are still in peoples minds but that will shift eventually. Plenty of character in the inner suburbs close to the CBD

 

I enjoyed this story of a Hawkes Bay investor that has done well
..PressReader.com - Your favorite newspapers and magazines.

 

Doesn't sound correct. $20mil if he sold and repaid all debt, yet only giving off a current income of "over" $100k pre tax.
He's either paying off a huge amount of debt every year ($400k+) or something isn't right

 

100k per month rental income from 80 investment properties

 

Most of regional NZ has had strong gains. We did well in Timaru, South Canterbury, Tasman region and Hawkes Bay. Lending has tightened up alot though and wages in most industries are relatively low, so I can see growth slowing. It's very hard if not impossible to get the yields at purchase that you'd want in many areas. Need to be able to create equity, it depends on your goals and preferred strategy. I think if your parents are getting good yields in Southland it shouldn't matter what the market does, if they're long term holds.

With the less desirable yields and all the changes with the Labour government increasing costs we've sold down a few. We're building second dwellings on some to subdivide and sell the existing.

I'm looking at doing trades and maybe a subdivision a year, not focussing on new residential buy and holds atm.

 

Some groceries are more expensive and fuel, but the money I didn't spend on stamp duty and land tax over 20 odd properties more than makes up for it for me.

 

Anyone care to shed some light on rates/water/insurance/pm fees? all similar to Aus? If you don't reside in NZ, do you get these bills sent to your Aus address?

 

Mostly electronic now
Certainly all of those .no snail mail anymore