Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Hobsonville highlights HomeStart opportunities

Hon Dr Nick Smith

Minister of Housing

25 August 2014 Media Statement

Hobsonville highlights HomeStart opportunities

A visit to Hobsonville Point was made today by Prime Minister John Key and Housing Minister Dr Nick Smith to highlight the opportunities for the Government's new KiwiSaver HomeStart package to improve home ownership for Aucklanders.

"Hobsonville is just the sort of development where recipients of our new KiwiSaver HomeStart grant will be able to buy their first home. We have up to 3000 new homes coming on-stream here over the next 10 years, of which at least 20 to 25 per cent will be within the new $550,000 house price cap for Auckland under KiwiSaver HomeStart and the Welcome Home Loans," Dr Smith says.

Hobsonville is former Defence Force land that is being developed by Housing New Zealand subsidiary Hobsonville Land Company. The first sod for housing was turned in 2002 by the then-Labour Prime Minister but no further work was carried out as the project became mired in planning disputes.

The National Government revived a housing plan for the land in 2010, and the land was included in one of Auckland's 63 Special Housing Areas under the new Housing Accords and Special Housing Areas Act in 2013. Earthworks were consented a week later and now 444 houses and sections have been sold. A further 350 houses are to be sold in 2014/15 with development partners. Beyond these 3000 houses, there is also a further 2000 proposed on adjacent private land in a Scott’s Point development that has been approved as a Special Housing Area.

The development also includes parks, playgrounds, cycleways, walking tracks, a farmers market and new schools. Last year the Mayor of Auckland and the Prime Minister opened the new ferry terminal and service to downtown Auckland.

“The practical effect of HomeStart at Hobsonville is that a first home buyer can now purchase a three-bedroom house. The previous house price cap of $485,000 meant that first home buyers could not access previous grants or the Welcome Home Loan for the dozens of three-bedroom properties at Hobsonville on sale in the $520,000 $540,000 range,” Dr Smith says.

"The hard part for young people who are on modest incomes and trying to buy into a subdivision like Hobsonville is getting the money together for a deposit. Our KiwiSaver HomeStart means that couples will now have access to a grant of up to $20,000 if they have been in KiwiSaver for five years. They will also have access to a greater portion of their savings in KiwiSaver. A typical couple each earning $50,000 a year will have, with no other savings, a $55,000 deposit and be able to secure a Welcome Home Loan for a $550,000 home.

"I am confident we are going to see hundreds of young Aucklanders accessing the new KiwiSaver HomeStart so they can purchase their first home in Hobsonville. I also expect this development to now advance even faster with the additional buyers in the market.

"An important objective of KiwiSaver HomeStart is to encourage more housing companies to build new houses in the price range affordable to first home buyers. Hobsonville has shown it is possible to provide good quality, more compact housing that is affordable. The flexibility and speed of the Special Housing Areas legislation combined with KiwiSaver HomeStart opens the door to many more developments like Hobsonville across Auckland," Dr Smith concluded.


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On Bank Scandals (And Air Crashes)

Last month, the Australian Securities and Investment Commission (ASIC) filed proceedings against Westpac over activities that have some distinct echoes of the Libor scandal. More>>

Budget: Health Funding Must Keep Up With Need

NZNO: “The nursing team has been doing more with less for years. It’s getting to the point that we’re really worried about our colleagues, our patients, our jobs and the level of health care available for people in our country." More>>

ALSO:

Emissions Inventory: Time For The Government To Do The Right Thing

It’s time for the National Government to step up and do the right thing to reduce climate pollution as data shows New Zealand’s greenhouse gas emissions are higher than ever, the Green Party said today. More>>

ALSO:

Budget 2016: More Partnership Schools To Open

Seven new schools will join the eight Partnership Schools already open, along with further new schools opening in 2017. “The growth of this policy is a reflection of the high level of interest from educators and community leaders,” Mr Seymour says. More>>

ALSO:

No Correspondence With English: Did Brownlee Make Up Sale Of Navy Ships ‘On The Hoof?’

Having revealed that several Royal New Zealand Navy vessels have not left port in years, New Zealand First is now asking the Minister of Defence to prove he did not come up with the idea of selling HMNZS Taupo and Pukaki until the media asked him. More>>

Housing Plans: Labour- Abolish Auckland Urban Boundary
The Government should rule out any possibility of an urban growth boundary in Auckland Council’s Unitary Plan if it is serious about fixing the housing crisis. More>>
Greens - State House Solution
The Homes Not Cars policy allows Housing New Zealand to retain its dividend and, in addition, would refund its tax, to spend on the emergency building of around 450 new state houses. More>>

ALSO:

Houses And Taxes: Post-Cabinet, Pre-Budget Press Conference

The Prime Minister said that the pre-budget announcements showed that his Government is “investing in a growing economy”. He re-affirmed the National Government’s commitment to lowering personal tax rates but that any such change must fit with the fiscal reality of the time. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news