If you’re a young person looking for a job, house, or pay rise, New Zealand’s Wellington might be just the ticket.
Recent data suggests the median price for a house in Wellington is more than 50 percent cheaper than some Australian cities while the average advertised salary is the highest across New Zealand.
According to figures from the Real Estate Institute of New Zealand, as of December 2015 the median house price in Wellington was NZD$436,000 (AUD$401,654).
While Domain figures released in June 2015 showed the median house price for Sydney was AUD$1million and AUD$668,030 in Melbourne.
“If you’re just starting out in your career it is possible to get into the property market in Wellington,” Wellington Regional Economic Development Agency chief executive Chris Whelan told The Huffington Post Australia.
For those not quite ready to dip their toes into mortgage territory, the cost of renting is also considerably cheaper when compared to cities like Melbourne or Sydney.
“Rental prices in Wellington are 23 percent lower than Melbourne but the demand for them is actually quite high -- so the investment opportunities are good -- and of course, you don’t have the capital gains tax,” Whelan said.
But it’s not just the cheap housing and Lord of the Rings surroundings that make Wellington attractive. Homegrown businesses like Garage Project -- three guys brewing beer out of a garage since 2011 -- prove Wellington’s billion dollar-a-year food and beverage industry is a major part of the city’s commitment to a diverse cultural scene.
As well as hospitality, Whelan said the technology sector both in the startup space and high growth space is strong as well as its creative sector -- particularly screen and digital.
Seek spokesperson Sarah Macartney says Seek’s online job advertisements in Wellington had increased over the past twelve months in education and training (up 36 percent), construction (20 percent), advertising and the arts (14 percent), human resources (14 percent) and science and technology (11 percent).
Plus, with little road congestion and a public transport system that is the most used in New Zealand, you can count on the average commute being no longer than 25 minutes.
“As a knowledge-dense city you can come here, run your business or study in an environment that offers a phenomenal lifestyle,” Whelan said.