The ballot to buy homes in the first KiwiBuild development built under the ‘buying off the plans’ initiative will open next week.
The ‘buying off the plans’ scheme involves the Government purchasing or underwriting homes built by private developers who will deliver them to KiwiBuild specifications. The Government received close to 100 applications from developers when the programme was opened up for applications in May.
The homes – part of the @340 Onehunga development – are six studio apartments priced from $380,000, 12 one-bedroom apartments priced from $490,000, and seven two-bedroom apartments priced at $600,000.
Construction on the homes begins today. They are due for completion in August 2019, meaning they will not count towards the Housing Minister’s first KiwiBuild target of 1000 homes built by July 1 2019.
This will bring the total number of completed houses to be balloted to 43, including the 18 homes at the McClennan development in Papakura which opened on Monday.
To go on the ballot for a KiwiBuild home, purchasers must go through the pre-qualification process. Around 3500 people are in the middle of this process, but as of Monday just 43 had finished.
KiwiBuild developments are built and delivered to the market either by the Crown converting land it owns into homes, including KiwiBuild homes in existing Government developments, or through major urban development projects undertaken by a future Urban Development Authority.
A second round of applications for developers wanted is due to be launched shortly.