Property developer Andrew Bruce says the Auckland property market is "fueled by a series of pressure points all working together to drive prices upwards." He points out that there is a suppression of building work in the city because the cost of doing business with council is skyrocketing.

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So where can you get the best bang for your buck? We compared the type of property you can purchase in different countries for the equivalent of around $400,000.

1. Auckland, New Zealand

For $400,000 you can buy a 1-bedroom, 1-bathroom freehold apartment and carpark in central Auckland.


View the listing here.

2. Johannesburg, South Africa

For around the same price, a 3-bedroom, 2-bathroom open plan house with a landscaped garden and large swimming pool awaits. Separate to the main house is a cottage with lounge, kitchenette, bedroom, and bathroom along with a separate staff quarters. All in the upscale northern suburb of Parkhurst.

View the listing here.

3. Queensland, Australia

A 186sqm, 3-bedroom, 2-bathroom townhouse in Coomera is available. The townhouse also has a 2-car garage, deck and shared swimming pool.

More details available here.

4. Tai Po, Hong Kong

A 1-bedroom 26.5sqm unit can be purchased. The Tai Po area is in the New Territories of Hong Kong.

View the listing here.

5. London, England

A spacious 2-bedroom, second floor apartment located in a purpose built building located close to Peckham's town centre costs around the same price. The unit is in Peckham is in South-East London within the London Borough of Southwark.


View more here.

6. Khao Tao, Thailand

Your $400,000 can buy a beachfront 2-bedroom, 2-bathroom condominium with panoramic sea and golf course views in Thailand.

View more here.