Be in the know….
The government has finally acknowledged that the shortage in suitable housing won’t be solved overnight, however they should have come to this conclusion sooner.
The target of 100,000 houses over 10 years has led to houses being built in places where there was little first-home buyer demand.
I suspect the government (your taxes) will prop up losses for homes purchased, built and not sold in Te Kauwhata, parts of Canterbury & Wanaka. All these houses were underwritten which also is changing such that developers are incentivised to sell to KiwiBuild first-home buyers instead of triggering the underwrite, which may be at a lower level.
$400M FOr Rent-to-buy And Other Progressive Ownership Schemes
Some $400m of the Government’s $2b allocation for KiwiBuild has been set aside for a new progressive ownership scheme which the Government believes could help up to 4000 renting families into homes.
This could take the form of a “rent-to-buy” scheme where low and middle-income buyers without a deposit are able to pay a discounted rent until they are able to come up with a deposit.
Shared equity is also being looked at, which would allow buyers to buy properties in partnership with the Government, which would own part of the property.
NZ house prices set a new record, topping $600,000: Six fastest-rising areas revealed
Six areas with the fastest-rising prices annually were:
• Manawatu/Whanganui, up 20.9 per cent from $337,000 to $407,500;
• Hawke’s Bay, up 16.3 per cent from $460,000 to $535,000;
• Otago, up 15.8 per cent from $475,000 to $550,000;
• Waikato, up 9.6 per cent from $$520,000 to $570,000;
• Northland up 9.4 per cent from $480,000 to $525,000;
• Bay of Plenty up 7.8 per cent from $575,000 to $620,000.
REINZ chief executive Bindi Norwell said October was a strong month for record median prices and the new national record median
Iran discovers new oil field with over 50 billion barrels
Iran has discovered a new oil field in the country’s south with over 50 billion barrels of crude, its president said, a find that could boost the country’s proven reserves by a third as it struggles to sell energy abroad over US sanctions.
The announcement by Hassan Rouhani comes as Iran faces crushing American sanctions after the US pulled out of its nuclear deal with world powers last year.
New Development Coming soon to be listed with TEAM Mars Realty!
Well Done Eric for another sale! 2 Ketu Court!