Can Australians buy property in New Zealand?
Yes. Australian citizens can buy a home or residential land in New Zealand without Overseas Investment Office (OIO) consent, whether they live here or in Australia. Australian permanent residents can do the same once they are ordinarily resident in New Zealand.
This guide covers who qualifies, how much deposit you need, getting a New Zealand mortgage, the buying process and tax. It is written for Australians moving here and for those investing from Australia.
If you are ready to talk finance, our home loan team works with Australian buyers on lending, structure and pre approval.
Who needs OIO consent
New Zealand restricts overseas buyers, but Australian citizens are treated differently from most other nationalities. The table shows how the rules apply.
| Your situation | Residential or lifestyle land | Residential land that is also sensitive |
|---|---|---|
| Australian citizen living in Australia | No consent needed | Consent needed |
| Australian citizen ordinarily resident in New Zealand | No consent needed | No consent needed |
| Australian permanent resident living in Australia | Consent needed | Consent needed |
| Australian permanent resident ordinarily resident in New Zealand | No consent needed | Consent needed |
To be ordinarily resident in New Zealand, you need a residence class visa, to have lived here for at least 12 months, and to be a New Zealand tax resident.
Sensitive land includes some larger blocks and land next to the coast or a reserve. Your lawyer checks the status of a property before you commit.
Buying to live here or buying as an investment
Moving to New Zealand: if you are relocating and buying a home to live in, lenders generally assess you as an owner occupier. That usually means a lower deposit and more lenders to choose from, particularly once you are living and working here.
Investing from Australia: if you are buying a rental while staying in Australia, lenders assess you as an investor who lives overseas. Expect a larger deposit, stricter income checks and fewer lenders willing to help. Tax also applies in both countries.
Our investment property advice covers structure and lending for buyers in either position.
How much deposit you need
The Reserve Bank sets loan to value ratio (LVR) limits on how much banks can lend to buyers with smaller deposits. These are the settings in place since 1 December 2025.
| Purchase | Typical deposit | Reserve Bank limit |
|---|---|---|
| A home you will live in | 20% | Banks can make up to 25% of new owner occupier lending to buyers with less than 20% |
| An existing investment property | 30% | Banks can make up to 10% of new investor lending to buyers with less than 30% |
| A new build, or a new home bought from the developer within six months of completion | Often lower | Exempt from LVR limits. Each lender’s own policy still applies |
Debt to income (DTI) limits also apply. Banks can only make a small share of their lending to owner occupiers borrowing more than six times their income, or to investors borrowing more than seven times.
These are the Reserve Bank limits. Each lender sets its own policy for borrowers who live overseas, and that is often stricter.
Getting a New Zealand mortgage as an Australian
New Zealand lenders look closely at where you live, where your income is earned and which currency it is paid in. Some lenders discount Australian income to allow for exchange rate movements, which reduces how much you can borrow.
Not every bank lends to borrowers who live outside New Zealand. Those that do usually ask for a larger deposit.
Lenders will generally ask for:
- Your passport
- Recent payslips
- Australian tax returns or notices of assessment
- Bank statements
- Details of your existing debts
What this means in practice: get pre approval before you make an offer, so you know your budget and can move quickly. A mortgage adviser who knows each lender’s policy for Australian borrowers saves time and avoids declined applications. Our lending team includes the 2026 KAN Outstanding Specialist Mortgage Adviser.
How the buying process works
Buying in New Zealand follows these steps, whether you are here or in Australia.
- Get pre approval to confirm your borrowing and deposit before you start viewing.
- Engage a New Zealand lawyer early. Your lawyer handles the conveyancing, checks the title and LIM report, verifies your identity and settles the purchase.
- Get an IRD number. Buyers who are not New Zealand tax residents need one to buy property here, and a New Zealand bank account to apply for it.
- Find a property and complete your checks, including a building inspection, the LIM report and a title review.
- Make a conditional offer. Common conditions are finance, a building inspection and your lawyer’s approval.
- Go unconditional and pay the deposit to the agent’s or lawyer’s trust account.
- Settle. Settlement is usually at least two weeks after going unconditional, and your funds go to your lawyer’s trust account before settlement day.
Auctions are unconditional, so finance and all your checks need to be done before you bid.
You can buy without coming to New Zealand. Your lawyer can complete the process remotely, and identity documents can be certified in Australia.
Moving money across the Tasman
Open a New Zealand bank account early. Most major banks let you start the process before you arrive.
Specialist foreign exchange providers often offer better rates than banks on large transfers. A forward contract can lock in an exchange rate between going unconditional and settlement, which protects you from currency movements.
Tax essentials
Capital gains: New Zealand does not have a general capital gains tax. The bright line test taxes gains on residential property sold within two years of buying it, for sales on or after 1 July 2024. Your main home is generally excluded.
Interest deductions: landlords can again deduct 100% of mortgage interest against rental income from 1 April 2025.
Rental losses: losses on residential rentals are ring fenced. They can only be offset against future rental income or property gains.
Living in Australia: New Zealand taxes the rental income, and Australia taxes its residents on worldwide income, including gains when you sell. The Double Tax Agreement gives credit for tax paid in New Zealand.
Selling from overseas: if you sell within the bright line period while living overseas, residential land withholding tax may be deducted from the sale proceeds.
Australian tax residency: it does not end automatically when you move. Check your position with an Australian accountant.
This is general information. We refer clients to an accountant for tax advice on their situation.
Where Australians are buying
New Zealand house prices remain below their late 2021 peak. In September 2026 the national median price was $755,000, down 2.3% on a year earlier. Every South Island region recorded annual growth in values, while North Island regions eased.
Australians relocating often look at Hawke’s Bay, Christchurch, Central Otago and Queenstown, and Auckland. Investors buying from Australia often look at regions with lower entry prices and steady rental demand, such as Christchurch, Hawke’s Bay, Manawatū and Whanganui.
Common questions
Do Australians need OIO approval to buy in New Zealand?
Australian citizens do not need OIO consent to buy residential or lifestyle land. Australian permanent residents need consent unless they are ordinarily resident in New Zealand.
Can Australians buy land in New Zealand?
Yes. Australian citizens can buy residential and lifestyle land without consent. Land that is also sensitive, such as larger coastal blocks, can need consent unless you are ordinarily resident here.
Can I get a New Zealand mortgage while living in Australia?
Yes, from some lenders. Expect a larger deposit, stricter income checks and a smaller choice of lenders than you would have living here.
How much deposit do Australians need?
Usually 20% for a home you will live in and 30% for an existing investment property. New builds can need less. Lenders often ask for more from borrowers living overseas.
Is there capital gains tax in New Zealand?
There is no general capital gains tax. The two year bright line test applies to residential property sold soon after purchase, and Australian residents may pay Australian tax on any gain.
Can I use my Australian super to buy a house in New Zealand?
No. Australian super transferred into KiwiSaver can’t be used for a first home withdrawal. Your New Zealand KiwiSaver savings can still be used if you are eligible.
Can I buy a property in New Zealand without visiting?
Yes. Your lawyer and mortgage adviser can manage the process remotely, though most buyers view the property or have someone they trust inspect it first.
How Finsol can help
Buying across the Tasman involves lender policy, currency, tax and legal steps in two countries. Our lending team helps Australians get finance in place before they offer, and works with your lawyer through to settlement.
Call us on 0800 346 765 or book a free consultation. Our lending team looks after clients right across New Zealand.
Finsol is a financial advisory business founded in Hawke’s Bay in 2010, looking after more than 6,000 clients across New Zealand. This article is general information only and does not take your personal circumstances into account. Lending criteria and tax rules change over time. Information checked against LINZ, Reserve Bank, Inland Revenue and REINZ sources in October 2026.
