Property

Accord fast-tracks developments

Developers will be able to push through subdivisions in less than a quarter of the time under a housing accord signed between the Housing Minister and Auckland’s mayor.

Friday, May 10th 2013

Housing Minister Nick Smith said it would deliver thousands of new homes for Auckland by streamlining the planning and consent process.

“This balanced and pragmatic agreement addresses the economic risks to New Zealand’s economy of an over-heated and supply constrained Auckland housing market. It is good news for Auckland families wanting access to more affordable houses to buy and rent.”

Auckland’s housing stock is not keeping pace with population increases. It is estimated there are 20,000 to few homes in the city and only 3600 are being built a year.

The draft Auckland Unitary Plan is intended to counteract the problem with increased intensification, but will not take effect for three years.

The accord's legislation will be introduced as part of this year’s Budget and will create special areas of Auckland where it will be possible to override existing restrictions.

New greenfield developments of more than 50 dwellings will be able to be approved in six months as compared to the current average of three years and brownfield developments in three months as compared to the current average of one year.

The streamlined process will not be available for high-rise developments that will need to be considered under existing rules until the Unitary Plan has been finalised in 2016.

Smith said: “The accord sets a target of 9000 additional residential houses being consented for in  year one, 13,000 in year two, and 17,000 in year three. This is a huge boost on the average 3600 homes that have been consented each year over the past four years and the 7400 a year over the past 20 years.”

It will expire when the new Auckland Unitary Plan becomes fully operative, expected in 2016.

Employers and Manufacturers Association chief executive Kim Campbell praised the plan.

"The agreement between Minister Nick Smith and Mayor Len Brown makes infinite commonsense. It deals with concerns we had about the constraints on Auckland's growth, and 'so refreshing to see Auckland and central government finding common ground.... the accord unblocks log jams we were concerned about with the government's three-year phase in of the Unitary Plan.”

Comments

No comments yet

SBS FirstHome Combo 6.74
Heartland Bank - Online 6.89
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.55
SBS Bank Special 6.69
TSB Special 6.75
Westpac Special 6.75
China Construction Bank 6.75
ICBC 6.75
AIA - Go Home Loans 6.75
ASB Bank 6.75
Unity 6.79
Co-operative Bank - Owner Occ 6.79
SBS Bank Special 6.19
ASB Bank 6.39
Westpac Special 6.39
AIA - Go Home Loans 6.39
China Construction Bank 6.40
ICBC 6.49
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
TSB Special 6.59
SBS Bank 6.79
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

More Stories

Rate cuts needed to lift mood

Wednesday, April 17th 2024

Rate cuts needed to lift mood

The enthusiasm that followed the change in government, mainly from property investors, has waned as homeowners and buyers hang out for interest rate cuts, says Kiwibank.

Support for regulation

Monday, March 18th 2024

Support for regulation

REINZ has emphasised the need for property management regulation to Parliament’s Social Services and Community Committee.

A better investment market

Thursday, March 14th 2024

A better investment market

“Reinstatement of interest deductibility starting from the new tax year on 1 April brings property investors back in line with every other business in the country, where interest costs are a legitimate deductible expense," Tim Horsbrugh, New Zealand Property Investors Federation (NZPIF) executive committee member says.

[OPINION] Recessionary times

Thursday, March 14th 2024

[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.