‘Affordable’ villas by sea

Free-standing nature one of the major drawcards in Stanmore Bay development

Just an hour’s drive north of Auckland’s central business district, mere minutes from the beach, will soon be a cluster of 23 family homes — of which nine have been built specially for first-home buyers.

If all goes as planned, the soonto-be-built villas in Stanmore Bay on the Whangaparaoa peninsula should be ready for people to move into by the middle of next year.

Images of the plans showed 23 houses, side by side, each with a car park out front and a small compact backyard for the kids to play in or to host an intimate barbecue. .

The small lounge with large glass sliding doors would open out into the backyard.

Director of Urban Economics Adam Thompson, who has been a key consultant on the project, said the free-standing nature of the villas was one of the major drawcards.

“My research for the developer has shown that home buyers strongly prefer stand-alone houses over apartments and terrace houses, because they are on freehold titles with no body corporates and also a rear yard.”

He said the Karepiro villas development would help provide more much-needed homes for first-home buyers with a small family in a good location.

Located an hour’s drive from the city, with good access to public transport, he said it was a good option for those wanting an affordable home without having to move too far out.

There were also a number of beaches, cafes, restaurants and shopping centres in the area as well as schools, he said.

Thompson said it was challenging for developers to build a new house in Auckland and sell it for affordable prices but this project showed it was achievable.

Prices for the two-storey, threebedroom homes start from $650,000 — the price cap for which first home buyers could be eligible for a Home Start grant of between $10,000 to $20,000.

“At this price it allows a big group of people to get into the market that might not otherwise be able to afford to do so.”

The grant was also dependent on income and years of contribution to the KiwiSaver scheme.

Under the Home Start scheme buyers would also be allowed to have a deposit of only 10 per cent, $65,000, on the property and to withdraw their KiwiSaver funds, as well as get a grant of $1000 to $2000.

Thompson said the grants, combined with KiwiSaver funds and some savings could mean a home at this price range, while still difficult, was “possible”.

Nine of the 23 will be sold for this price, while the remainder will be sold for $670,000.

Senior sales consultant marketing the properties, Travis Standen, said in 24 hours of the development being made public there were over 400 page visits and 15 inquiries into his inbox.

“All of them are first home-owner buyers.

“The development gives them an affordable option, it gives young people some hope they can get in,” Standen said.