What will $500,000 buy you around New Zealand? We’ve found out what you’ll get in the north, so now we’re turning our attention to the centre of the nation – focusing on the capital, but also looking at the smaller cities nearby.
In Wellington, half a million dollars will buy you a smart, near-new 2-bedroom apartment in the centre of the city, says David Platt, director of Tommy's Real Estate.
If you're lucky, he says, you might even get a 3-bedroom apartment, but typically you can buy an 85m2 to 100m2 apartment which is built to the current code.
Moving further out, Platt says you could expect to be able to buy a standalone house with a 10- to 15-minute drive to the CBD; think Ngaio, Wilton or Hataitai: "You'd get 3 bedrooms, possibly drive-on, but it's more than likely the house would need a little upgrading.”
Beyond the Wellington City boundaries, into the Hutt Valley and Porirua, you can buy a 3-bedroom family home on a section, where there’s more of a commute to the city.
Further north, you can buy a 4-bedroom family home on a full section in Hawkes Bay, New Plymouth or Palmerston North. To the south, you'll be able to get a similar size house-and-land in the greater Nelson region.
As ever, the further you go from any city centre, the more you’ll get for your money. To see a full selection of what you can buy for $500,000 in the centre of New Zealand, try this search.
SEE ALSO: What $500,000 buys you: North
Please note: Information was current at time of publishing (March 2015). As the property listings referenced have now been withdrawn, the links originally included in the article have been removed.
With $500,000 in your pocket you can buy this smart 2-bedroom apartment in Te Aro’s Monument building (buyer enquiry over $485,000).
Freehold, and situated right in the centre of town, this apartment includes a secure carpark and is currently rented out at $500 a week. Plus, you don’t need to worry about earthquake strengthening – this is a brand new building.
This charming 1930s villa in Kelburn has 2 bedrooms and 1 bathroom and is set on 569m2 of native garden. It’s been modernised with insulation, a heat pump, DVS, and a stylish new kitchen.
Private and peaceful, and within walking distance of the city and transport links. Buyer enquiry from $495,000.
Enjoy a modern, stylish lifestyle in a character-filled 1900s 3-bedroom cottage on Wellington's city fringe. At the end of a quiet cul-de-sac, this cottage is full of character, but completely renovated, with a brand new kitchen and updated bathroom.
Buyer enquiry over $515,000, but the owners are moving overseas and keen to sell.
Buyer enquiry from $515,000, so a nudge over budget, but for that you get this brand new house with 4 bedrooms, 2 bathrooms and a fully fenced 507m2 section.
The house is double-glazed, fully insulated, has a heat pump, air-conditioning, and includes an internal-access double garage.
With a council valuation of $540,000, this former showhome in Grenada Village is priced for an “urgent sale” at buyer enquiry over $495,000.
The 210m2 solidly-constructed house has 2 bathrooms and a 586m2 corner section. It is located in the centre of Grenada Village, with schools and transport links nearby.
Just a fraction over budget, but with the owners “seriously keen to sell”, this 1990s-construction family home in Havelock North has 5 bedrooms, 2 bathrooms, 2 living areas and plenty of space.
The 962m2 section offers plenty of privacy and is located near the local reserves – with the potential for views over Tauroa Valley.
In Richmond, south of Nelson, you can buy this spacious 4-bedroom family home, ideally located for the local shops and schools like Henley and Garin College.
Great for young children or pets, the 900m2 section provides ample space for outdoor play. Under budget at $489,000.
With 5 bedrooms, 2 bathrooms and a big 802m2 section, this solid brick-and-tile family home is in popular Hokowhitu, close to the local village and the University, and zoned for several excellent schools.
It features huge entertaining spaces including two living areas, plus internal access double garaging and a lovely garden. Enquiries over $509,000.
If you’re looking for a lifestyle property, this 4-bedroom home plus 2-bedroom granny flat sits on 4.45ha of land with its own lake and views of Tararua. Just east of Masterton, this property also features a hazelnut and fruit orchard.
Plenty of opportunities to make use of the 2-bedroom self-contained unit for family or as a rental. Priced at $498,000.
This 5-year-old home in Lower Vogeltown has 3 bedrooms, 2 bathrooms and sits on a tidy 393m2 section.
Modern and smart, with a high stud and spacious design, this home also has a large garage and is within walking distance of the shops, transport links, stadium, CBD and local schools. Buyer enquiry over $509,000.
SEE ALSO: What $500,000 buys you: North
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