The first KiwiBuild homes in New Plymouth are expected to be completed in mid-2019, Minister for Housing and Urban Development Phil Twyford announced today.
There will be 68 modest starter homes built in Marfell with two-thirds being three-bedroom homes and the remainder four-bedroom. All of them will be built to a Homestar 6 rating with construction starting early next year.
Phil Twyford said KiwiBuild is about restoring the Kiwi dream of homeownership to thousands of young families who typically would have been able to buy their first home.
"This new community on Banks Street and Discovery Place is a fantastic opportunity for first home buyers who have been locked out of the market to get a very affordable home. It will rejuvenate an area that had been left with vacant lots and run down houses.
"Many of the KiwiBuild homes built at this development will be under $400,000, and all will have a maximum price of $450,000, meaning the mortgage repayments for houses in this price range will be same as the average rent for a three-bedroom home in New Plymouth.
"We're giving hope back to over 1,400 people who've registered their interest in buying their first home in New Plymouth.
"I'd like to also acknowledge and thank the New Plymouth District Council who have been very supportive of this development and have helped with the planning process," Phil Twyford said.
KiwiBuild will continue to offer a range of affordable homes for first home buyers, from inner city apartments to standalone homes, across the country.
