A New Zealand homeowner hopes to stand out from other sellers by offering a free Tesla to the person who buys his house.

The home – a seven-bedroom, five-bathroom property – has reportedly been on the market for weeks.

The owner has floated the bid for a new car to try and sweeten the $1.8million (£928,000) deal.

House prices in New Zealand suffered their biggest drop in 30 years and fell 10.9% in October – their 11th consecutive month of decline.

“Rising mortgage rates continue to weigh on house prices and sales activity,” Kiwibank economists said in a note.

So the owners of 22 Dungloe Avenue, Flat Bush, had to lower the price and do something to stand out from the other 400 listings in suburban Auckland, Kapil Rana, residential sales agent for Barfoot & Thompson, told Stuff.co.nz.

The price of the car is a “bonus” rather than an addition to market value, he added.

After purchasing the property, the new owner could choose the color of the car – the Tesla Model Y has five options – and it will then be ordered and shipped directly from the manufacturer.

With space to park six cars, the house also has a granny flat on the ground floor, which would allow its new owners to have space for any extended family.

The all-new Tesla Model Y will come straight from the factory. Photo: AP

House prices in New Zealand rose by around 40% during the pandemic before peaking last November at levels repeatedly described by the central bank as unsustainable. However, as the central bank aggressively raised the cash rate and mortgage rates followed suit, prices fell sharply.

Many economists expect that, given the expected rise in the cash rate, house prices will have to fall further.

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