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Trees and sky reflected in river below

If you are considering relocating down under and wish to build your dream home, then moving to New Zealand is more affordable.

Recent Interest cuts by the Reserve Bank of New Zealand (RBNZ) has made purchasing property in New Zealand a lot more affordable then it has been in previous years.

The Reserve Bank of New Zealand (RBNZ) has cut interest rates for the first time in four years, cutting 25 basis points off the official cash rate, bringing it down to 3.25%.

Off the back of this rate cut the New Zealand dollar (NZD) lost ground against most major currencies, with NZD hitting a 4 year low against the pound, making the NZD very attractive to UK buyers.

The reasons given were low inflationary pressures and an expected weakening in demand. At the same time, the bank left the door open for an even looser monetary policy, with Governor Wheeler noting that further easing beyond the current cuts might take place later this year.

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