KiwiBuilds draw most interest in Auckland
The majority of people who have registered their interest in the Government’s KiwiBuild programme are from Auckland.
Of the 35,496 people who had registered their interest as of Tuesday, 22,891 said they wanted a home in the region.
Tauranga and Hamilton were close behind with about 4300 each, followed by Christchurch, Napier-Hastings, and Queenstown. Those registering were allowed to select multiple cities of interest.
The Government’s KiwiBuild policy aims to construct 100,000 homes over 10 years, with the first 1000 to be completed by July 1 next year.
Interested buyers are not automatically entered into the ballot for homes but will be contacted when opportunities come up.
Each development will seek expressions of interest from potential buyers who can confirm they qualify for the scheme – they must be first-time buyers or ‘‘second-chancers’’ with New Zealand residency making under the income cap of $180,000 for a couple or $120,000 for a single person.
If there are more interested buyers than houses available – which is very likely over the first few years of the policy – buyers will be entered into a ballot.
A Cabinet paper from Housing Minister Phil Twyford’s office suggests buyers would need to prove that they could get bank financing for a mortgage to enter that ballot.
There is provision for a ‘‘priority ballot’’, understood to be intended for use in making sure locals have the best chances of KiwiBuilds in their area.
Applicants would be allowed to be involved in more than one ballot at once but could only purchase once.
National MP Amy Adams has described KiwiBuild as a lottery, where a few will win a government-subsidised house.
If the KiwiBuild scheme works as designed, the homes will be sold at cost, not subsidised.
The price caps for the homes will be $650,000 for a three-bedroom unit in Auckland or Queenstown, $600,000 for two bedrooms in those localities, and $500,000 for properties everywhere else in the country.
The first 18 KiwiBuild homes being erected in South Auckland will be available next month. They will be priced at $579,000 for a three-bedroom and $649,000 for a four-bedroom residence.