With the objective of putting home ownership within reach of more New Zealanders, KiwiBuild Whangarei launched in May 2019 to the eager anticipation of many.
The properties (three completed homes and seven in development) were proudly launched to the market by Gregg Marsland and Lisa Gray from Ray White Whangarei who had over 40 hopeful purchasers through the first open day – and even pre-inspection offers (made off the plans) on the homes.
“Buyer interest piqued early in the marketing with several offers prior to the first open homes, record attendance at open homes and such a diverse pool of interested buyers,” said Lisa Gray.
“Our first purchasers were a young couple in their twenties struggling to get on the property ladder – who settled in four weeks on their new three bedroom home. Over 90% of the homes sold in the first four months of marketing, with the final sale completed in October – just seven months after they launched, and with several people missing out on the property.”
“Helping 10 Northland families – mostly young, and a few with kids – onto the property ladder has been a highlight of my career! It is humbling to see people achieve dreams which they thought were out of reach,” said Gregg Marsland.
The aim of the KiwiBuild program was to restore the dream of home ownership to families throughout New Zealand, by providing eligible first home buyers with exclusive access to a range of fixed price modest starter homes – which in Whangarei were priced from $460,000 to $500,000 ($10,000 below Whangarei median sales prices at the time.)
All purchasers had to complete a pre-qualification process and were only eligible if they met these criteria: first home buyer or ‘second chancer’; family income under $180,000 (single person under $120,000); citizen, permanent resident, or on a residency visa and living in New Zealand; and intend to live in the home for three years.
The affordable, quality homes located in Kotata Heights were built by leading New Zealand builders – including Jennian Homes, Generation Homes, Classic Builders and Signature Homes.
With the Northland region at the forefront of population growth nation-wide, recent figures show the Whangarei population is skyrocketing by nearly two thousand people a year and with prices also rising the demand is still here for affordable housing options.
“We look forward to seeing further legislative changes to encourage more people towards home ownership – whether this is the assistance for shared home ownership currently being mooted. However, in light of current circumstances like immigration, regional shifts, lower mortgage rates, changes to the CGT and an economy which incentivises property investment we believe it will be harder for many to attain their home ownership dream,” said Gregg Marsland.
FURTHER ENQUIRIES:
Gregg Marsland, Ray White Whangarei
09 430 3300 or 021 227 9944
gregg.marsland@raywhite.com
Ray White Whangarei
rwwhangarei.co.nz