Is new zealand an expensive country to live in? Is property expensive?

Question

Is new zealand an expensive country to live in? Is property expensive?

Answer 1

Prices in New Zealand seem to evoke no astonishment either way when I relate them to continental Europeans. Prices in France, Germany, or Austria are pretty much the same as in NZ. I would therefore say, it is an average-priced country for most things of daily use, cheaper than the UK and Scandinavia, and slightly more expensive than the US or Canada.

Used car prices here are on the high side. You can feel ripped off when buying some tiny 1990 Nissan and paying NZ$ 5000 for it, which is not unusual. Better fork out more and buy a brand new car - you'd be amazed how cheap some new cars are here. I just bought two Mitsubishis for my family at half the price they would have cost in the EU.

Houses are on the cheap side. 130 to 500k NZ$ will buy a nice family home. But then, salaries are low, averaging 37k NZ$ a year last time I looked (this can quadruple depending on your job).

Certain costs don't factor here: Healthcare is free for all, as is a pension plan. Considering that health insurance and saving up for retirement can be crippling financial undertakings in countries where this is your responsibility, that frees up a lot of your buying power. Of course, taxation plays a role in this, too - most people face income deductions between 20 and 30 percent, some up to 39%. But that includes all benefits as mentioned, plus a few niceties like free schooling, unemployment insurance contribution, etc.