Finance1NewsAlmost 200% surge in Australians house hunting in NZ - new figures
Australian searches for New Zealand property jumped 190% in August after the Australian government scrapped key property tax breaks for investors.
Australian interest in New Zealand property has surged, with searches by Australia-based buyers up 190% year-on-year in August, according to Realestate.co.nz.
Searches by Australia-based buyers on realestate.co.nz surged 190% in August year-on-year, with the spike beginning in May when Australia changed its property tax rules.
The Australian government scrapped negative gearing and capital gains tax settings that had favoured investors for over 25 years, pushing many to look across the Tasman.
New Zealand's lack of a capital gains tax and a favourable exchange rate are the main drawcards, with Auckland, Central Otago and Canterbury attracting the most interest.
If you are an Australian property investor, the removal of negative gearing and capital gains tax settings has changed the local landscape, and NZ's lack of a capital gains tax is drawing attention.
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