Best place to study in new zealand?

I live in Auckland and go to the University of Auckland. It's great, lots of research going on there and top quality lecturers. Living conditions are good but the cost is quite high. You can get a shoebox apartment close to uni pretty cheap or you can rent in the suburbs and tackle public transport every day. Otago has a good reputation, big student life and the cost of living is much much cheaper but geez it's cold down there.