tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Monday, July 26th, 12:14PM

News

rss
Latest Headlines

Crown land development parcels revealed

Four blocks of surplus Auckland Crown land that will be offered up to developers have been identified by the government.

Monday, June 1st 2015, 12:00AM

by Miriam Bell

The four sites, which amount to 30 hectares of land, are in Massey East, Manukau, Avondale and Hobsonville.

Building and Housing Minister Nick Smith said that, in total, the sites could potentially fit 600 homes – a portion of which would have to be priced as starter homes.

The most advanced site is the Massey East site, which is at the corner of Moire and Granville Roads and totals 9.5 hectares.

It is a Ministry of Education site, which was set aside for a new high school that was subsequently built elsewhere.

The government has authorised Smith’s Ministry to purchase it for housing purposes under the Housing Act 1955.

Smith said the site, which has capacity for about 200 homes, is close to the motorway, is located on major bus routes and has amenities like parks, schools and a major shopping centre.

“It already has access to water and waste infrastructure – meaning housing development will be able to proceed more quickly.”

Smith aims to have a development agreement signed for this first parcel of land before the end of October, earthworks started over summer and the first homes completed in late 2016.

The other three sites, which could potentially fit about 400 homes, are on NZTA-owned land and are currently being considered for purchase under the Housing Act.

The commercial viability of these sites relative to their zoning and infrastructure requirements will next be assessed.

Under the government’s new initiative, officials are investigating further Crown owned sites, which have been identified as surplus to requirements, to see if they are suitable for housing.

Around 500 hectares of land around Auckland have been identified, but Smith would not reveal the location of the other 470 hectares as infrastructure and zoning checks are still underway.

Smith said the government will take an approach similar to that which they have used in Christchurch, whereby they will partner with the private sector to deliver houses.

In Christchurch, part of the development agreement specified that a proportion – ranging from 20 to 38 percent – of the houses should be priced as starter homes.

They will be looking to include a similar condition in agreements made under this new initiative, with the proportion to be determined through negotiations on a case-by-case basis, Smith said.

“Our initiative is about boosting not just supply, but also ensuring more homes are built which are suitable for first home buyers.”

« Declining trend in building consentsFree Investment Property Showcase Events: Auckland, Wellington and Christchurch »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.95 3.29
ANZ 4.44 3.10 3.50 3.84
ANZ Blueprint to Build 1.68 - - -
ANZ Special - 2.50 2.90 3.24
ASB Back My Build 1.79 - - -
ASB Bank 4.45 2.55 2.95 3.29
Basecorp Finance 5.49 - - -
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.55 2.95 3.25
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 4.55 3.15 3.22 3.85
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 1.95 1.85 2.35 2.45
Heretaunga Building Society 4.99 3.80 3.90 -
Lender Flt 1yr 2yr 3yr
HSBC Premier 4.49 2.19 2.45 2.69
HSBC Premier LVR > 80% - - - -
HSBC Special - 2.25 - -
ICBC 3.69 2.15 2.35 2.75
Kainga Ora 4.43 2.67 2.97 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.75 3.34 3.34 4.14
Kiwibank - Offset 3.75 - - -
Kiwibank Special 3.75 2.49 2.49 3.29
Liberty 5.69 - - -
Nelson Building Society 4.95 2.99 3.24 -
Lender Flt 1yr 2yr 3yr
Pepper Essential 4.79 - - -
Resimac 3.39 2.98 2.79 3.29
SBS Bank 4.54 2.69 2.99 3.29
SBS Bank Special - 2.19 2.49 2.79
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - ▲2.29 - -
The Co-operative Bank - Owner Occ 4.40 ▲2.49 ▲2.89 ▲3.19
The Co-operative Bank - Standard 4.40 ▲2.99 ▲3.39 ▲3.69
TSB Bank 5.34 ▲3.30 ▲3.69 ▲4.04
TSB Special 4.54 ▲2.50 ▲2.89 ▲3.24
Wairarapa Building Society 4.99 3.55 3.49 -
Lender Flt 1yr 2yr 3yr
Westpac 4.59 3.15 3.49 3.89
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.89 3.29
Median 4.54 2.68 2.99 3.29

Last updated: 19 July 2021 9:09am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com