The six regions with asking prices under $700k

Despite the national average asking price hovering around $920,000 in October, buyers can enter the market at a much lower price, according to realestate.co.nz.

The most common price range search on realestate.co.nz is between $600,000 and $800,000, which indicates many people’s budget.

In October, six regions across New Zealand had average asking prices sitting under $700,000:

  • Gisborne ($689,016)
  • Taranaki ($675,330)
  • Manawatu / Wanganui ($652,488)
  • Otago ($649,692)
  • Southland ($512,283)
  • West Coast ($463,184)

Five tactics that can help you enter the market sooner

  1. Increase your income. Of course. this is easier said than done, but consider asking for a raise, doing extra shifts, taking on a second job or starting a side hustle.
  2. Reduce your expenses. Look for ways to cut back on discretionary spending, such as eating out less often, buying less ‘stuff’ and holidaying domestically rather than overseas.
  3. Improve your credit score. Paying your bills on time, minimising your credit applications and reducing your credit limit are all likely to have a positive impact on your credit score.
  4. Keep a consistent job. It can be harder to qualify for a home loan if you’ve just changed employers and you’re still in your probation period.
  5. Get in touch. As your mortgage adviser, I can prepare your loan application and match you with a lender that’s suitable for your particular scenario.