I hope you don't mean you need a $1500 deposit on a house in NZ, because that is outrageous. Auckland house prices are the ones of the highest in the world...
http://www.stuff.co.nz/business/651...ld-top-ten-for-housing-unaffordability-report
In fees though, I can understand. Regardless, you need a couple 100k for a deposit in Auckland. And some analysts say it has approximately 2 years left in it before a correction of varying degrees (5 - 25%).
Anyway, this is off topic.
AJX is a safer bet with bigger upside anyways.
How To Value Alexium, page-346
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