The ballot for the first 18 KiwiBuild homes opened today.
Housing Minister Phil Twyford unveiled the first 18 of 100,000 KiwiBuild homes at the McLennan development at Papakura on September 2. A random ballot will decide who will be allowed to purchase the homes.
To qualify for the ballot, prospective buyers must complete the pre-qualification process. Buyers need to be first home buyers, earning less than $120,000 for a single income applicant or less than $180,000 for multiple applicants and declare an intent to live in the house for at least three years.
Pre-approval from a bank or financial institution is also required.
Around 3500 people are currently completing the pre-qualification process. Just 43 have completed the process and a similar number have some form of missing information from their application, meaning they were likely to come through the process soon.
Another 12 houses are expected to be completed at the development by the end of the year.
Twyford has set a target of building 1000 KiwiBuild homes by July 1 2019, the date of the first target.
More homes on the way
It was a big weekend for KiwiBuild with Twyford announcing a further 2,400 homes to be built at a Mount Roskill development.
Twyford also announced today that he would shortly reopen applications for the ‘buying off the plans’ initiative. This involves the Government underwriting or purchasing homes from private developers.
The first round of buying off the plans drew nearly 100 proposals from developers.