The environment for buying property in New Zealand is looking increasingly promising, it has been claimed.
According to Direct FX, the time could be right for transferring money into NZ dollars and buying a home in New Zealand.
While the housing market remains flat, the Reserve Bank of New Zealand has recently cut the cash rate to a record low of 2.5 per cent.
This should lead to price rises in the coming months, meaning those who take advantage of the current cheap prices could profit, the firm suggested.
"The recently weaker NZ dollar has seen interest from offshore based clients increase," a spokesman said.
"Ex-pats and migrants have been waiting for a NZD pull back in order to send money to New Zealand, and a lot of that money will transfer into the property market because the interest rates are so low."
Meanwhile, Direct FX also suggested that now might be a good time for Australians to take advantage of the strong dollar.
Posted by Huw Jenkins
