With prices moving frequently it can be difficult to set savings targets or find appropriate suburbs to aim for.
We’ve looked at the lower quartile of sales results by region & applied some smarts to let you know how much you’ll need to save for a deposit. We also look at how much extra you’ll need to save based on this month’s price changes.
The Market Cools
Check out Auckland Central, Hamilton, & West Auckland to see the big changes.
Auckland central requires a deposit of $165,000, a vast decrease from its peak of $190,000 in October last year.
Wellington & Christchurch have stayed relatively flat, & Auckland’s North Shore was the only region shown that has an increase of deposit requirements.
English Breakfast or a Flat White? You’ll pay the same.
We compared some London boroughs’ price per square metre to Auckland homes. Ever thought that Auckland property prices were insane?
Ponsonby and Islington
Both of these suburbs are close to the inner parts of their respective cities. Ponsonby is seen as a modern, quirky part of town, & one of the closest suburbs to the CBD. Islington Borough is the most densely populated borough in London, and also one of the closest. This combination of high density housing & proximity to central London is why Islington homes are sought after.
Westmere, Grey Lynn & Wandsworth
Grey Lynn: $12,029
Westmere & Grey Lynn both have roots in working class families flocking to the area. Grey Lynn has mass amounts of Kauri villas dating pre World War One; Westmere had most of its housing stock development in the 1920s. Wandsworth only became a borough of London in 1965, but has been around much longer than that! If you’re a fan of Rowing & Tennis, then Wandsworth could be the place to look in. It borders Wimbledon & has one of London’s oldest public rowing clubs.
Devonport & Hackney
Devonport has a long history of cool little art scenes & quirky boutique shops. Shoreditch in the Hackney Borough shares this sentiment like Devonport, but on a much larger scale. Shoreditch is known internationally for its street art, boutique shopping, & odd nightlife experiences!
Takapuna, Kingsland & Tower Hamlets
Tower Hamlets: $11,171
Just past the old Aldgate pump, the symbolic start of East London, The London Borough of Tower Hamlets is the first ‘true’ eastern part London. It contains the famous Tower of London, Canary Wharf & borders the immense amount of infrastructure created for the 2012 Olympics. Takapuna has fantastic restaurants & eateries lining the beach and a vibrant town hub. Kingsland borders Eden Park with a vibrant nightlife & interesting cafes by day. You’ll pay a similair amount per sq. m of house here, but it depends on what lifestyle you’re after!
Here’s a full rundown.
NZ Data sourced from Homes.co.nz, London data here.
The data from this article was originally published by Susan Edmunds on Stuff.co.nz