Hi Jamie,

Our family have moved over to New Zealand 3 years ago  from Sydney and we live in Kerikeri Northland app 3hrs North of Auckland .Certainly wouldn't get 7.5% return here. I Have just started looking into house values etc in the different regions.For myself I like to be reasonable close to the investment property, if it is a do-up then travel costs are keeped down, property inspections are easier.
What appeals there is no capital gains tax here and land tax. I am not a seasoned investor , but am always looking. When the exchange rate improves you will also have more money to invest.

Karen