Recommended NZ | Guide to Money | Gimme: Competitions - Giveaways

KiwiBuild is backing Kōtuitui to provide high-quality affordable homes - Colliers

Contributor:
Fuseworks Media
Fuseworks Media

KiwiBuild is backing Kōtuitui to provide high-quality affordable homes in the heart of downtown Manukau.

The development comprises a total of 61 two- and three-bedroom terrace homes just 500m from the Manukau transport centre that are priced from $590,000 for eligible KiwiBuild buyers.

The development is being brought to life by developer Avant Group in partnership with local Mana Whenua iwi Te Ākitai Waiohua.

Kōtuitui is setting a new standard for affordable homes with design by world-renowned architect Ken Crosson, who has twice been recognized as designing one of the best houses in the world according to World Architecture News. Since its launch in November 2019, 88 per cent of Kōtuitui’s 25 open-market homes have been sold unconditionally, showing the market appeal for the product. Of the remaining homes, 36 have been reserved for KiwiBuild, providing a fantastic opportunity for first home buyers and second chancers to purchase. Of their involvement with the project, KiwiBuild says:

"KiwiBuild works to make more new homes available to more New Zealanders.

"We are increasing the supply of homes to New Zealanders by working closely with property developers such as Avant Group. "KiwiBuild helps the construction process along by underwriting a portion of the homes. This allows houses to be built sooner in areas where we believe there is need, such as Kōtuitui in Manukau.

"When a developer is supported by the KiwiBuild programme, they are required to offer a portion of the homes to eligible KiwiBuild buyers first. KiwiBuild homes are designed for a variety of New Zealanders at different stages in life. To remain within reach of new home-buyers, each KiwiBuild home must be sold under the price-cap. "At Kōtuitui, 2-bedroom homes will be sold from $590,000, while 3-bedrooms start at $640,000."

National Director of Residential Projects at Colliers International is an advocate for KiwiBuild, praising the policy for its ability to accelerate the construction and sale of affordable homes. "The KiwiBuild developer-underwrite allows projects to go ahead at a time when privately funded development is difficult due to high land and construction costs.

"It also enables new development at price points that first home buyers and second chancers can realistically afford.

"The really fantastic thing about Kōtuitui for these buyers is the high quality of both the design and construction, as well as the location with proximity to amenity and transport links.

"While the focus of much of the affordable stock has been on efficiency, Crosson believes that everyone is entitled to quality housing, which drew him to designing these homes.

"The sawtooth roof design allows internal space to be maximised and provides a distinct differentiation between the homes. "Timeless materials such as brick cladding have been purposefully selected for low-maintenance, sustainability that will stand the test of time."

Evans says the Government’s support of the project also demonstrates the commitment to grow Manukau as a regional centre.

"We chose Manukau as the number one place in our prediction of the ten best places to purchase in 2020.

"The areas were selected based on improvements underway that will continue to make the areas more desirable and lead to greater capital gain potential in the future.

"Manukau epitomises this with Panuku Auckland’s Transform Manukau project devoting significant investment to transform over 600ha of land in Manukau Central and Wiri.

"Manukau will not only be a fantastic place to live for people from all walks and stages of life, astute buyers should always look to purchase where intrastate improvements are planned or underway."

The purchase price includes a full whiteware package, landscaping with established trees and grass and car parking. Evans says having all the "extras" included in the purchase price is particularly attractive.

"Buyers usually stretch themselves financially to secure a property and then aren’t able to afford the lifestyle items that create real enjoyment of the home.

"These are often overlooked, but at Kōtuitui they can be financed through a mortgage over your home rather than being an additional cost when purchasers can least afford it - at move in time.

"Being able to supply first home buyers with a washing machine, dryer, fridge, heating and landscaping within the already affordable price points is very satisfying."

All articles and comments on Voxy.co.nz have been submitted by our community of users. Please notify us if you believe an item on this site breaches our community guidelines.