Construction on 25 new KiwiBuild apartments in the Auckland suburb of Onehunga starts today. And balloting for the highly sought after dwellings begins next week, officials announced this morning.
"This is a unique opportunity for those who have been locked out of the property market to buy a modern, new home in an increasingly popular area that might otherwise have been out of reach for first home buyers," Housing Minister Phil Twyford said in a statement.
The homes, which are expected to take a year to build, include six studio apartments, 12 one-bedroom apartments and seven two-bedroom apartments. They will range in price from $380,000 to $600,000, and include washer/dryers and dishwashers – "high quality fittings" described by Mr Twyford as "often hidden costs for first home buyers".
The Government has set a goal of building 10,000 KiwiBuild homes, targeting first time homebuyers or people deemed
"second chancers", by June 2021.
Earlier this week, the ballot began for the first 18 homes in Auckland – stand-alone dwellings in Papakura selling for $579,000 for three bedrooms and $649,000 for four bedrooms.
"Our Government is opening the door to families locked out of home ownership by building affordable starter homes where the market failed to do so," Prime Minister said earlier this week.
The latest development, named @340 Onehunga, has been praised for its central location and it's proximity to public transportation – including a planned light rail route.
Open days at 340 Onehunga Mall begin this weekend. They will remain open from 11am to 2pm daily until the ballot closes on 15 October.
Those who win the ballot will be required to pay a 10 per cent deposit while the homes are being built. Only those who have an income of less than $120,000 for a single buyer, or no more than $180,000 for more than one purchaser, are eligible.
They must also be a New Zealand citizen or permanent resident, or a resident visa holder who is "ordinarily resident in New Zealand" and must intend to own and live in the home as their primary place of residence for at least three years.