Auckland is an stunningly beautiful city on water, but that doesn't make it immune from a real estate bust just like the one that is happening in the US right now (2008). Recent data shows that the boom has come to an end, with an excess of inventory on the market. Now might be the time to buy. Our favorite residential area: Mt. Eden.

The median housing price in Auckland for 2006 was $395,000 NZD, $452,000 NZD in April 2007 and $427,000 NZD in January 2008. Over the past five years, about 20 high rise residential buildings have been constructed each year. With Auckland’s land area limited and its population growing, a cost-effective way to build new projects is to go higher.

Auckland is situated in a narrow point of land between two bodies of water, the Waitemata Harbor on the east and Manukau Harbor on the west. With several small mountain ranges to the north and south, Auckland is one of the most scenic cities in the world. Auckland has a city population of 425,000 and a metro area population of approximately 1.4 million, making it the largest city in New Zealand. As such, it is also the main business center and continues to draw immigrants from around the world.

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