Shearer: No $300k houses in Auckland
Monday 28 January 2013
Labour leader David Shearer has tempered his plans for a large-scale affordable housing scheme.
The party had said it would build 100,000 homes that would sell for $300,000 to low-income families through its KiwiBuild scheme.
Shearer said at the weekend that was a national average.
Standalone houses in Auckland would sell for more like $550,000.
He said apartments and terraced homes in cheaper Auckland suburbs could be sold for $300,000.
The plan had come in for criticism from many commentators who said it was too ambitious.
Property Council chief executive Connal Townsend told landlords.co.nz in November that more detail was needed on how Labour would achieve the $300,000 sale prices it had been talking about.
He said medium-rise apartments generally cost about $6500 a square metre to build.
Comments from our readers
Sign In / Register to add your comment
Wellington’s approach to housing development will get a major shake up after the city council unanimously voted in favour of proposed changes today.
Commercial property syndicates give investors options and risks they might not otherwise have access to – but they do come with risks.
The Reserve Bank’s debt-to-income ratio (DTIs) proposals are flawed and would have perverse outcomes for investors, according to a new report from TailRisk Economics.