That's Auckland. Wellington is cheaper and has every bit as vibrant a tech sector as Auckland. Dunedin - where I live - is downright cheap (avg house price around 300k NZD( but admittedly less IT jobs than in the bigger cities. Thing is - NZ is tiny - it's an hour flight to Auckland from Dunedin (northern city centre to southern city centre) so it's not like it's hard to move if push comes to shove.