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SHA fast-tracking to be protected

Developers worried about the impact of the Unitary Plan on Special Housing Area fast-track processes need not fear, according to the Housing Minister.

Thursday, May 26th 2016, 12:00AM

by Miriam Bell

Fears that developments on some of Auckland’s Special Housing Areas (SHAs) might not go ahead once the Unitary Plan comes into force – unless there are changes to the relevant law – recently emerged.

The alarm bells started ringing after several lawyers, a developer and Auckland mayoral candidate Phil Goff wrote to the minister with concerns that the legislative changeover could render SHA applications null and void.

Goff told media that, as Auckland is in the middle of a housing crisis, anything that hampered up to 15,000 new homes being built, was a stuff up that needed to be fixed.

But Building and Housing Minister Nick Smith said there will be a smooth transition from SHAs to Auckland’s Unitary Plan.

"There has been concern from some developers in SHAs that the fast-track processes for plan variations will not be available after 16 September, and there are calls for a legislative extension.

"There will only be a transitional problem if plan variations are not done in these SHAs by 16 September, and the plan changes are not included by the Independent Hearings Panel currently looking at the Auckland Unitary Plan.”

Smith said that developers and the Auckland Council should progress these areas as quickly as possible.

However, in his view, the Independent Hearings Panel is likely to include SHAs in the residential zones of the recommended new Unitary Plan.

“We will be able to assess whether there is a practical transitional problem when the panel’s work is complete and we know how advanced the plan variations are,” he said.

If there is a problem, Smith is open to extending the SHAs legislation under urgency if necessary.

“I will make a decision on whether such a legislative change is needed after the Independent Hearings Panel has made its Unitary Plan decisions on 22 July.”

The new build rate has doubled under the Housing Accord to more than 40 houses per working day, and that momentum has to be maintained, he added.

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Lender Flt 1yr 2yr 3yr
AIA 5.35 4.49 5.25 5.55
ANZ 5.54 5.15 5.85 6.15
ANZ Blueprint to Build 2.78 - - -
ANZ Special - 4.55 5.25 5.55
ASB Bank 5.35 4.49 5.25 5.55
Avanti Finance 5.45 - - -
Basecorp Finance 6.45 - - -
Bluestone 5.29 7.49 7.59 -
BNZ - Classic - 4.55 5.25 5.45
BNZ - Mortgage One 5.55 - - -
BNZ - Rapid Repay 5.55 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 5.55 5.35 5.94 5.99
BNZ - TotalMoney 5.55 - - -
CFML Loans 6.45 - - -
China Construction Bank 5.50 5.40 6.14 6.40
China Construction Bank Special - 4.45 5.19 5.45
Credit Union Auckland 5.95 - - -
First Credit Union Special 5.85 4.70 5.20 -
Heartland Bank - Online 4.00 3.85 4.70 4.84
Heretaunga Building Society 5.95 4.80 5.50 -
HSBC Premier 5.49 4.39 5.15 5.39
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.25 4.29 5.09 5.35
Kainga Ora 5.43 4.57 5.58 5.85
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 5.00 5.55 6.19 6.39
Kiwibank - Offset 5.00 - - -
Kiwibank Special 5.00 4.55 5.19 5.39
Liberty 4.84 - - -
Nelson Building Society 5.95 4.95 5.85 -
Pepper Essential 3.44 - - -
Resimac 4.59 5.60 6.16 6.29
Lender Flt 1yr 2yr 3yr
SBS Bank 5.29 4.69 5.35 5.49
SBS Bank Special - 4.19 4.85 4.99
Select Home Loans 4.09 4.29 4.86 5.09
The Co-operative Bank - First Home Special - 4.19 - -
The Co-operative Bank - Owner Occ 5.45 4.29 5.19 5.45
The Co-operative Bank - Standard 5.45 4.79 5.69 5.95
TSB Bank 5.59 5.14 ▼5.79 6.15
TSB Special 4.79 4.34 ▼4.99 5.35
Unity 5.65 4.80 5.50 -
Wairarapa Building Society 5.24 4.55 5.20 -
Westpac 5.54 5.09 5.79 6.09
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.54 - - -
Westpac Special - 4.49 5.19 5.49
Median 5.45 4.55 5.25 5.52

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