Can New Zealanders Buy Property in Australia: All You Need to Know
Many New Zealanders come to Australia every year, to work, study, live or retire. If you’re planning a move you may have heard about recently extended rules which prevent foreign ownership of property in Australia in many cases - so can New Zealanders buy property in Australia? If you’re a Kiwi resident of Australia with Permanent Residency, or a Special Category Visa (SCV), buying property in Australia as a NZ citizen should be straightforward enough. However, if you’re not a resident or don’t have an SCV your options are limited.
Let's walk through how to invest in property in Australia as a New Zealander to give you a feel for your choices. We’ll also introduce a reliable and cost-effective way to send and receive large sums internationally with Wise. With low, transparent fees, mid-market exchange rates, and secure, trackable transfers, Wise makes international money transfers simple and stress-free. Plus, you’ll get dedicated support and volume discounts when sending large amounts.
Can New Zealanders Buy Property in Australia?
Yes. However, the rules and how easy it is to buy property in Australia as a New Zealand citizen depend on your residency. To explore in more detail, we’ll tackle this as two different questions:
Can NZ citizens buy property in Australia if they’re resident there?
Since 1 April 2025, Australia has had strict restrictions on the sale or properties to foreign persons - rules which have recently been extended into 2029. However, these restrictions do not apply to Australian citizens, permanent residents, and New Zealand citizens with a Special Category Visa (Subclass 444)¹.
If you’re a Kiwi resident of Australia, you probably have this SCV visa type - unless you’re an Australian permanent resident already. This means that in most cases, Kiwi residents of Australia can buy property there without strict restrictions.
Can Kiwis buy property in Australia if they’re not resident there?
If you’re a New Zealander who is not resident in Australia², or who does not hold an SCV visa type for any reason, you’re subject to the same rules as other foreigners buying property in Australia. This means there are only some types of property you can buy, and you may need to apply for approval from the ATO (Australian Taxation Office) before purchasing³.
Generally if this is your situation you can not buy established dwellings in Australia but you may still be allowed to buy the following with ATO approval⁴:
- New dwellings
- Vacant land
- Established dwellings for redevelopment
This guide is for information only - if you’re considering buying an Australian property get professional advice. Laws on ownership can change, so having expert guidance is essential.
Can you buy real estate and get residency?
There’s no Australian real estate visa - but as a New Zealand citizen you can enter Australia freely and either get a Special Class Visa or a Permanent Visa. You can also apply for citizenship by conferral after holding a permanent visa⁵.
What’s the real estate market like in Australia?
The rules preventing foreign purchases of real estate in Australia were put in place in part to cool the market as property prices had experienced very high growth. This was causing issues in the domestic market - and means that properties in Australia are still fairly costly.
In recent years, the major cities of Sydney and Melbourne have seen a slowdown in property sales, bringing down prices. However, regional capitals are still experiencing high growth and increasing costs.
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How much are property prices in Australia?
Median house prices in Australia are over 1 million AUD in many cities, with suggestions made in 2025 that Sydney’s median costs will exceed 2 billion dollars in 2026. Cheaper properties can be found in regional cities - but even here, growth in housing costs has been significant.
Here’s a summary of the median costs by city towards the end of 2025 as an example⁶:
| City | Median home price |
|---|---|
| Sydney | 1.752 million AUD |
| Brisbane | 1.101 million AUD |
| Canberra | 1.1 million AUD |
| Melbourne | 1.083 million AUD |
| Adelaide | 1.049 million AUD |
| Perth | 981,000 AUD |
| Hobart | 745,000 AUD |
| Darwin | 659,000 AUD |
*Correct at time of research - 13th May 2026, taken from Commbank data from Q3 2025
Coming into 2026, Commbank reports that prices have started to fall in Sydney and Melbourne, but Perth, Brisbane, Adelaide, and Darwin are still experiencing record high costs for homes, with extremely high growth in cities like Perth in particular⁷.
How to search for a property in Australia
Start out your search for a new place in Australia using popular real estate websites like these:
Once you’ve got a feel for the property types and prices available in your preferred area you can reach out to individual agents to work together on finding the right place for you.
How to buy property in Australia as a NZ citizen (Step-by-step)
If you already have Australian Permanent Residency, or are a resident with a Special Category Visa (Subclass 444), buying a home in Australia is fairly straightforward⁸. However, additional ATO rules apply if you’re considered a foreign person⁹ - we’ve touched on these rules here, but you may find you need individual advice to navigate the requirements in your own unique situation.
Step 1: Check foreign investment rules to learn which property types you can buy
Make sure you’re clear on your legal status in Australia, and check the property types which you can buy. You’ll need to have an Australian solicitor or conveyancer on hand to support your purchase - they can also help confirm your options based on your visa and residency type.
Step 2: Search for properties using your Australian agent
It’s helpful to work with your agent to view properties, and to make sure you understand the different ways you may buy a new home. You could choose to attend auctions to buy that way, or through a private arrangement. Both have their own pros and cons so taking time to view places and decide which route suits you best can help.
Step 3: After finding a property to buy, get the Contract of Sale and make an offer
Once you’ve found a property either at auction or through a private route, you’ll be provided with the Contract of Sale and can make a formal offer. Your offer may be unconditional or conditional on things like property inspections or financing. Talk to your agent to agree which will work best in your specific situation.
Bear in mind that if you’re considered a foreign person you may need to get ATO approval before you make an offer on your new home - check if this is needed based on your residency, visa and the property type before you proceed.
Step 4: Commission inspections and pay your deposit
Once your offer is submitted you can commission a building inspection and any other checks needed such as a pest inspection. If you’re using a mortgage to buy your property this is also the time to confirm your loan from the lender so that the money is steady on settlement day.
Step 5: Settle the final purchase
On your agreed settlement date you’ll complete the purchase and pay the remaining money owed, At this point you’ll also need to pay stamp duty and any other taxes or legal fees that apply based on your property location.
Step 6: Register your purchase with the ATO online if needed
If you’re considered a foreign purchaser you’ll still need to complete the process with the ATO, by registering your new home. Get the advice of your lawyer to ensure you comply with the law.
Fees and costs of buying a property in Australia
The costs of buying a property in Australia depend on the property type, location and your residency status.
If you’re a Permanent Resident of Australia you’ll pay stamp duty which varies by state, as well as any bank or legal fees which apply on your purchase. Because the costs can be tricky to work out, banks like Commbank¹⁰ have helpful tools which let you enter the details of the specific home you’re buying to model the fees which will apply.
It’s also important to check if foreign buyer surcharges apply based on the state your property is in, and how long you’ve been in Australia.
Different states have their own ways of calculating whether or not you’re a foreign person for the purposes of this tax - and the rates can be varied too. To put it in context, foreign buyer surcharges in NSW are 5%¹¹, while Victoria¹² and Queensland¹³ have a 5% fee. You might find yourself exempt from these costs, but this could hinge on how long you’ve spent in Australia in the past year - so check the details carefully.
If you’re considered a foreign buyer and need to get ATO permission to buy a property in Australia, bear in mind there’s also a fee to pay for this service. This depends on the value of the property - but if your home is from 1 million AUD to 2 million AUD - the median cost of a property in Sydney, Brisbane, Canberra, Melbourne or Adelaide - the fee is just over 30,000 AUD¹⁴.
How to get a mortgage in Australia as an Kiwi
Australian banks are familiar with working with Kiwi buyers who are now residents of Australia. If you’re new to the country, a bank like Commbank¹⁵ can help with tailored packages which can make getting a loan more straightforward.
If you’re not a resident of Australia you may find it harder to get a mortgage locally - consider looking for a loan in New Zealand instead, or use a mortgage broker to support your application.
Tips for your property purchase in Australia
- Double check the restrictions on foreign purchasing before you start your search - if you have permanent residency or an SCV you can usually buy without restrictions
- Australia’s real estate market has been very hot in recent years, leading to high costs - but market watchers suggest this growth is starting to slow in some locations. Get advice if you’re buying as an investment
- Fees for buying a home in Australia vary widely based on the property value and location, but banks have help calculators to allow you to estimate your costs in advance
- Consider using Wise to send your NZD to AUD when paying your downpayment, fees and mortgage - you’ll get the mid-market rate with low, transparent costs
Save on currency conversion fees with Wise when buying property in Australia
If you’re buying property in Australia from New Zealand, you may need to send money internationally for your deposit, stamp duties, legal fees or final property payment. Use the calculator below to estimate how much your money could be worth in AUD before making an international property payment.
Wise is an easy way to save up to 6x when sending money overseas. You can make extra secure transfers to 140+ countries, which are easy to set up with no physical paperwork and completed usually in seconds.
With low, transparent pricing and the mid-market exchange rate for all your currency conversions for your foreign transfers, you'll usually get the best value for your money. Wise lets you see exactly what you're paying for a transfer, and what the recipient will get, with no hidden fees.
For managing foreign currencies even easier, create a free Wise account, and you'll be able to manage and convert your money in NZD and 40+ other currencies. Plus, you'll get local account details in 8+ currencies, making it easy to receive money from abroad whenever you need. You'll be able to track your transfers all in one place.
When it comes to international transfers, Wise makes things easier and cheaper.
This general advice does not take into account your objectives, financial circumstances or needs and you should consider if it is appropriate for you. Savings claim based on our rates vs. selected New Zealand banks and other similar providers in Jan 2025. To learn more please visit https://payout-surge.live/nz/compare%3C/a%3E%3C/p%3E
Please see Terms of Use and product availability for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.
Sources:
- Special Category Visa (Subclass 444)
- Australian Taxation Office - Are you a foreign person buying property in Australia
- Australian Taxation Office - apply for approval
- Australian Taxation Office - types of property a foreigner can buy
- Australian immigration - NZ citizens
- Commbank - housing prices update 2025
- Commbank - housing outlook 2026
- Moneysmart - buy a house
- Australian Taxation Office - steps to buy property
- Commbank - stamp duty calculator
- Foreign buyer surcharges - NSW
- Foreign buyer surcharges - Victoria
- Foreign buyer surcharges - Queensland
- Australian Taxation Office - approval costs
- Commbank - foreign mortgages
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
