'Expats advised to examine local markets'

Property investors have been urged to investigate local markets before they purchase new homes.

Real estate portal TheMoveChannel.com issued the advice following a survey by mortgage insurer QBE LMI that indicated house prices in New Zealand are set to rise by 11 per cent.

The research may interest expats who are using foreign exchange services to convert funds in order to invest in property.

Dan Johnson, director from the portal, explained that Brits ought to look beyond countries' general house price increases and search specific areas for affordable investments.

"You can't take a country as a whole market," he said.

"You really need to understand the dynamics of the local market where you are investing."

Mr Johnson added that Christchurch and Auckland are potentially lucrative areas in which to buy new homes.

In other news, the government recently put forward plans to extend free NHS care to expats who live outside the European Economic Area for up to six months.

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By John Mills