Quick Sale

Two Yorkshire property developers are enthusiastic about the benefits of investing in property in New Zealand; Ian Payling and Dave Rothwell-Wood built the ‘Lemon-Tree house’ on land north of Auckland. Once the sale was agreed, the two men made the first of three trips to New Zealand. On the first, they had 20 meetings in eight days, got their planning application in, found a builder and pegged out the site. Payling said he couldn’t imagine that happening in the UK. “We also opened a bank account and secured a loan within a day to pay the builders’ costs,” he said. New Zealand has much to recommend to overseas buyers. It has a robust economy, with no capital gains tax, stamp duty or estate duty and no overseas ownership restrictions for residential property.