Parliament

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

 

KiwiBuild reset to help more NZers into home ownership

Hon Megan Woods

Minister of Housing


MEDIA STATEMENT

4 September 2019 Embargoed until 1pm

Government resets KiwiBuild to help more New Zealanders into home ownership

The Government is announcing new initiatives to help more New Zealanders into homeownership through its KiwiBuild reset, Housing Minister Megan Woods announced today.

“The housing crisis developed over decades and won’t be solved overnight. We’ve made a good start across the wider housing portfolio but KiwiBuild isn’t working so we are changing it. When policies aren’t working we are honest about that and fix them,” Megan Woods said.

“By making improvements to our build programme, we can get more New Zealanders into warm, dry, secure homes whether they be public, rental or affordable KiwiBuild homes.”

The reset includes:

• New ways for people to become home owners, such as shared-ownership schemes
• Boosting supply by building more homes where evidence shows they are needed
• Letting friends and family join their $10,000 deposit assistance together
• Reducing to 5% the deposit required for a government-backed mortgage
• Reducing the amount developers receive for triggering the government underwrite rather than selling to KiwiBuild buyers

“We will also be dropping the target of 100,000 houses over ten years. It was overly ambitious and lead to contracts being signed in places where there was little first home buyer demand,” Megan Woods said.

“Instead of the target, we will focus on building as many homes as we can, as fast as we can in the right places. Each month we will release a dashboard of housing statistics so New Zealanders can easily measure our progress.

“Homes in Te Kauwhata, Canterbury and Wanaka that haven’t sold will be released to the open market, allowing us to reuse the government capital to get more developments underway where there is clear demand.

“We will also be making changes to that Government underwrite, reducing the amount available in future developments so developers are incentivised to sell to KiwiBuild first home buyers instead of triggering the underwrite, which may be at a lower level.

“The Urban Development Authority, Kainga Ora – Homes and Communities, will coordinate developments across New Zealand making sure that we get the mix of public housing, market priced homes and KiwiBuild homes. We will now target those homes to areas where there is a clearly identified demand and need. We will look for opportunities for build to rent with long term institutional investors through these developments.

Today’s reset of the build programme sits alongside other actions the Government has already taken to begin to address the housing crisis:

• Banning overseas speculators from the market
• Stopping the sell-off state houses
• reforming tenancy rules
• Helping hundreds of homeless people get into a home with wrap around services including addiction services and mental healthcare
• Building record levels of state and public houses
• Starting off reform of the RMA

Attachments
Changes_to_FirsthomeKiwiBuild5.45pm.pdf
DASHBOARDDRAFT_10.10am.pdf
Housing_support.pdf
HousingandUrbanInitiatives.pdf
MainAchievements5.45.pdf


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Coronavirus: On The Addiction To Chinese Student Fees, And A Possible Future For RNZ Concert

Last week, Australian PM Scott Morrison extended its ban on foreign visitors from or passing through from mainland China – including Chinese students - for a third week. New Zealand has dutifully followed suit, with our travel ban extending until next Monday at least, presumably dependent to some extent on what Morrison decides to do later this week.
Our universities are now asking for an exemption to the travel ban for their Chinese students, who would still, the universities assure us, be subjected to strict quarantine procedures upon arrival. Given how the inability of the university system to care for its own students on campus made world news last year, that promise may not do much to reduce the coronavirus fears among the wider New Zealand public. More>>


 

Abortion Legislation Committee: Abortion Bill Report Presented To The House

The Abortion Legislation Committee has presented its report on the Abortion Legislation Bill to the House. A copy of the report is available here. The bill seeks to have abortion services provided like other health services... More>>

ALSO:

Local Government NZ: New Report A Pathfinder For Affordable Housing

A report released today by LGNZ provides a roadmap for councils finding their way through the complex policy, regulatory and market tools available to help enable more affordable housing developments for New Zealanders. With demand soaring, rents ... More>>

ALSO:


Gordon Campbell: On Concert Being Bled To Enable RNZ’s Youth Station

Release the frequencies! If only all political crises could be resolved with such (suspicious) ease. In December, the RNZ board signed off on the idea for a new youth music channel on FM. More>>

ALSO:


“Can Do Better”: Sallies Election Year Report Card

This year’s State of the Nation report by The Salvation Army offers a mixed bag of outcomes, with some significant headline progress - but also an ambitious list of “can do better”. Government action is delivering limited improvements... More>>

ALSO:

Waitangi 2020: Bridge Between Two People

More than 2,500 people gathered this morning at Waitangi to commemorate the 180th anniversary of the Treaty. People started flooding into the grounds from about 4.30am. Jacinda Ardern spoke of the bridge between two people. More from RNZ here>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels