A new study by the Australian Financial Council has found that there are a number of factors that affect the likelihood of a house moving and it could cost more to do so.
Key points:House moving is more expensive if you live in New Zealand, where the costs are higherThe Council’s new research found that in New South Wales, the average cost of a move is around $1.2 million more than it is in New York and $1 million more in VictoriaThe study looked at the costs of moving house from the previous year in New New Zealand and in Victoria.
While there is a lower cost in New England, the Council found that moving a house from one state to another costs an average of $2.6 million more per year than it would in New Jersey.
This could be a significant price to pay if you are living in a rural or remote location.
A study by economists from the Institute of Government and Public Policy Research (IGPPPR) found that while the cost of moving a property to another state could be reduced by $2 million if you move to a smaller town, it would increase by $4 million if your move is from the CBD.
It also found that the cost to move a house in Victoria would increase significantly by $8 million.
“It is the average costs that have the most effect on the amount of money you are willing to spend to move from one house to another,” Professor Chris Tuckett, an economist from the IGPPPR said.
“There is a lot of uncertainty around what the average house price in a state will be.”
For the most part, the costs you will have to pay will be quite low compared to what you would pay in the other states.
“Mr Tucketts said it was difficult to estimate what the costs could be, but that “if you had a couple of people in your home, you might have to spend about $2 or $3 million more on the move”.”
For most people it is about $1 to $1 and a little bit more depending on how much money you have to move.
“Mr Davenport said it had been common for people to move houses to find a better lifestyle, and said it would be interesting to see if the costs were lower in states with a higher number of people living in them.”
What’s the cost associated with that, and do people really care about that?,” he said.
Topics:housing-industry,housing,economics-and-finance,housing-rates,social-development,new-zealandFirst posted September 23, 2018 09:24:02Contact Chris TUCKETT