As you have noted, the property sector here is going crazy at the moment. Whilst it is disheartening, there are some "other sides to the story" that can bring hope. Things like: Comparing apples and ambergris. I know you are not familiar with all the areas and regions in NZ, so it's understandable that the context of these things is elusive at times. As Wayne and Dave stated, the house you referenced is ridiculously priced due to its location. Whitianga is like rich Auckland boomer central. It's where wealthy Aucklanders (Jaffas) go to retire and complain about other Aucklanders who visit the Coromandel on holiday. 900+ squares of beachfront property there is where the real cost was (similar to buying in Clifton). Add an award winning architecturally designed home and you have a recipe ridiculous prices. Also couple that with the fact that NZ media has so little else to report on that they love fanning the flames on insane house pricing. They thrive on stuff like that. Adios Auckland! Although over 1/4 of the country's population live in/around the big smoke, there are great places to live away from Jaffa-land. Many of these places have everything one needs, decent employment options, and more affordable housing. The Aussies are in a similar boat. Sydney and Melbourne are great cities, but as uncle Ben said in Spiderman "with great cities come great housing expenses" [paraphrased]. So Aussies often look to places like Brisbane, central north coast (NSW), Adelaide and even Perth (aka Australia's Randfontein ). Places where one may not get paid the same big bucks, but are more affordable overall. New Zealand has similar places. Granted they're not as developed and not quite as good a deal (income-to-housing) as their Aussie counterparts, but that's part of the cost of living on the butt end of the world. Last year a former colleague (Saffer) took a job in Cambridge (outside Hamilton) because he could afford to buy a house there. Not a bad move. Other places like Nelson, Whangarei and my personal favourite Christchurch are also viable options. Resist the pull to Browns Bay (there are too many Saffers there anyway ) and look further afield (at least when you are ready to buy a house, which requires Residence, so you have time). Sold the Dream, now what?! In addition to the love of rugby, cricket, char-grilled meat and beer, Saffers, Aussies and Kiwis have another thing in common. They sell the dream of home ownership as a measure of success. This dream has been sold over many generations, and whilst still achievable, it is by no means the same as it used to be, or a measure of success. Owning a house is convenient as they are generally investments that address the basic human need for shelter. But if one looks at the approach that many people take in big cities in other countries (like Germany, Austria, Sweden, Singapore, Switzerland, etc), they look primarily at the shelter aspect and many put home ownership pretty far from their mind and focus their investment efforts in other areas. Auckland, Sydney and Melbourne are fast becoming (or have become) like Singapore, Bangkok, Zurich and New York, whilst some people are adapting and either moving further away so that they can live the dream, or reside themselves to the fact that they can invest elsewhere and rent in Auckland, the general kiwi mindset around home ownership is still firmly set. Anyway, hope my 2c doesn't add to your concerns about a future in NZ.