A recent survey has revealed that 41,000 Kiwis have left the country for a year or more. The figures come from Stats NZ and are based on population data. Of those leaving the country, over half cited higher salaries and a better quality of life as reasons. The other 34 percent cited work and based on data compiled from New Zealand moving companies, many kiwis are making the shift across the Tasman with more than 50 percent choosing to compare moving companies to destinations in Australia with Camden high on the list. So why are New Zealanders making the move now?
New Zealand’s median house price increases in 12 months
The REINZ House Price Index hit a new high in July, with each region exceeding its 12-month peak. This suggests that underlying values for properties remain strong. The Auckland median price hit a new high, with growth spanning six Auckland districts. Nonetheless, the growth rate has moderated slightly in recent months. If you are thinking of buying a property in New Zealand, it is reaching unaffordable levels and families are seeking to Australia for suitable alternatives.
Impact of Covid-19 pandemic on house prices
The COVID-19 pandemic made many New Zealanders more cautious when purchasing a property, especially in densely populated urban cities. In contrast, housing price increases in COVID-19 pandemic cities were most noticeable in smaller, cheaper suburban cities, located away from these high-density areas. This study may help understand the connection between the COVID-19 pandemic and housing prices, and how it affects human behavior.
The Covid-19 pandemic impacted many aspects of the housing market in Australia and New Zealand, including house prices in Camden. Among other things, the pandemic affected minority communities disproportionately, as they had higher rates of preexisting conditions, limited access to services, and other vulnerabilities. This economic slowdown will also increase unemployment rates and exacerbate the burden on low-income renter households.
Change of lifestyle priorities
The recent COVID-19 pandemic in New Zealand has been a case study for the generalizability of the country’s response. The country’s small population and civil political climate, coupled with its recent experience with pandemics, have allowed the country to respond to the virus with relative ease. The government responded to the outbreak quickly and effectively, establishing a national unity to fight the virus. However, pandemic has also left families across the Tasman disconnected for an extended period of time. Due to this, people are beginning to move closer to families and reconsider their priorities with careers and jobs becoming secondary to family life.
Familiarity in small towns
There are many smaller country towns in Australia that resemble those in New Zealand and this is where kiwis can relate and appreciate the quaint suburbs. This familiarity is an attraction and is good for not only Camden but towns all across Australia.