Tuesday, March 13, 2007
Needed like a hole in the head
Brits look to NZ for first step on property ladder
Oh joy, lots of property investors looking to join the New Zealand real estate market with the strongest currency around.
The current median sale price is already a fortune for your average New Zealand family, but for the Brits of course it's comparatively under-valued. Not due to any particular merits on their part, but because of the difference between the New Zealand peso and the Pound (take a New Zealand price, and subtract two-thirds to work out the equivalent in pounds!)
Something to bear in mind next time we hear bleating about the "over-valued New Zealand dollar." Over-valued relative to what, I wonder? Some farmer's opinion of where it should be in order to maximize his profits?
Oh joy, lots of property investors looking to join the New Zealand real estate market with the strongest currency around.
The current median sale price is already a fortune for your average New Zealand family, but for the Brits of course it's comparatively under-valued. Not due to any particular merits on their part, but because of the difference between the New Zealand peso and the Pound (take a New Zealand price, and subtract two-thirds to work out the equivalent in pounds!)
Something to bear in mind next time we hear bleating about the "over-valued New Zealand dollar." Over-valued relative to what, I wonder? Some farmer's opinion of where it should be in order to maximize his profits?
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