.png "RE Investar-Logo-MRI_Colour web 229x115px (1)"){kind=logo}
In a bid to save money on rent to be able to afford owning a home, more and more Kiwis are turning to house sitting.While Auckland remains a housing hot spot, the biggest increase in house sitters has been in Wellington, according to Jason Strong, managing director of The House Sitting Company.
Strong said the number of sitters across New Zealand had reached its highest point since the company opened eight years ago.
"The motivation for rent or saving for a deposit is high, probably around 70 per cent," Strong said.
"I've got some sitters who have been with us for the whole eight years since the business started."
When Strong married his wife 10 years ago, they house sat in Auckland for more than three years while he was working part-time and his wife, Stephanie, was a student.
"I think we did over 100 sits in three and a half years, we just moved every two to three weeks because we were trying to save money because we didn't have money."
He said it was fun for a while, but "it did get old after a couple of years."
The pair eventually saved for a deposit and bought a property in Tauranga, because it was cheaper than in Auckland.
Ex-Auckland sitters Jessica Karauria, 29, and her husband Eddie Karauria, 35, spent two years on the go.
"It was hard, it wasn't an easy decision. There were good things but the difficult part was moving around constantly," Jessica said.
"Sometimes I'd be sitting somewhere and my husband would be sitting somewhere else.
"We always had jobs but it definitely took its toll moving around."
However, she said they were able to save $50k during that time, which was enough for a house deposit in Wellington and a trip to Europe.
"If we hadn't of done it we couldn't have bought our house as quickly as we did."
She said if they were still living in Auckland, they wouldn't be able to afford the calibre of house they have in Wellington because houses are cheaper there.
"Two years of sacrifice was hard work and wasn't ideal but for what we got out of it I would do it again."
Nick Goodall, senior research analyst at CoreLogic, said there was strong competition for a limited amount of property across New Zealand.
"People are willing to do anything in the short term to realise the Kiwi dream - to own their own home.
"People want some certainty to settle down and live in your own house."
He said that despite Auckland's average house price sitting at $1 million, the percentage of first home buyers entering the market had remained consistent.
"Twenty per cent of the market over the last couple of years has been first home buyers.
"They're just changing their expectations to buy a property they can afford, like buying further out or buying a smaller property."
He said the rate of property price increase was slowing down.
"We are seeing the effects of LRV put in by the reserve bank. The continual focus on the reserve bank is debt to income restrictions."
While Auckland remains a housing hot spot, the biggest increase in house sitters has been in Wellington, according to Jason Strong, managing director of The House Sitting Company.
Strong said the number of sitters across New Zealand had reached its highest point since the company opened eight years ago.
"The motivation for rent or saving for a deposit is high, probably around 70 per cent," Strong said.
"I've got some sitters who have been with us for the whole eight years since the business started."
When Strong married his wife 10 years ago, they house sat in Auckland for more than three years while he was working part-time and his wife, Stephanie, was a student.
"I think we did over 100 sits in three and a half years, we just moved every two to three weeks because we were trying to save money because we didn't have money."
He said it was fun for a while, but "it did get old after a couple of years."
The pair eventually saved for a deposit and bought a property in Tauranga, because it was cheaper than in Auckland.
Ex-Auckland sitters Jessica Karauria, 29, and her husband Eddie Karauria, 35, spent two years on the go.
"It was hard, it wasn't an easy decision. There were good things but the difficult part was moving around constantly," Jessica said.
"Sometimes I'd be sitting somewhere and my husband would be sitting somewhere else.
"We always had jobs but it definitely took its toll moving around."
However, she said they were able to save $50k during that time, which was enough for a house deposit in Wellington and a trip to Europe.
"If we hadn't of done it we couldn't have bought our house as quickly as we did."
She said if they were still living in Auckland, they wouldn't be able to afford the calibre of house they have in Wellington because houses are cheaper there.
"Two years of sacrifice was hard work and wasn't ideal but for what we got out of it I would do it again."
Nick Goodall, senior research analyst at CoreLogic, said there was strong competition for a limited amount of property across New Zealand.
"People are willing to do anything in the short term to realise the Kiwi dream - to own their own home.
"People want some certainty to settle down and live in your own house."
He said that despite Auckland's average house price sitting at $1 million, the percentage of first home buyers entering the market had remained consistent.
"Twenty per cent of the market over the last couple of years has been first home buyers.
"They're just changing their expectations to buy a property they can afford, like buying further out or buying a smaller property."
He said the rate of property price increase was slowing down.
"We are seeing the effects of LRV put in by the reserve bank. The continual focus on the reserve bank is debt to income restrictions."
.png?width=200&height=100&name=RE%20Investar-Logo-MRI_Colour%20web%20229x115px%20(1).png "RE Investar-Logo-MRI_Colour web 229x115px (1)"){kind=logo}