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Greater Buyer Choice Attracts Buyers To Auckland Housing Market

November 4, 2019

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WHO IS ELIGIBLE FOR SPECIAL HOUSING AREA HOUSES?

To help combat Auckland’s housing crisis, Special Housing Areas (SHAs) have been established across the city where fast-track development of housing (including affordable housing) can take place. SHAs were set up to speed up the supply of housing as agreed in a Housing Accord between the Auckland Council and central government.

Special Housing Areas (SHA) are a tool provided for within the council’s agreement to provide more housing to meet the considerable demand particularly in the main centres. Key to these areas been designated SHA status is the requirement that developers provide at least 10% of affordable housing within their development. Compared to other houses on the market, affordable houses are required to be sold for no more than 75 % of the Auckland region median house price. For example, at Hobsonville Point the percentage of affordable homes is 20 per cent, and those houses are priced below $580,000 so they can be bought by people who earn the average Auckland wage.

 
Eligible purchasers of a relative affordable dwelling in a Special Housing Area are those persons who can sign a declaration confirming they:
  • Have a gross household income, as at the date of the declaration, which does not exceed 120% of the Auckland median household income as set at the relevant date.

  • Have paid a price for the affordable dwelling that is not more than the relative affordable price point of no more than 75% of the Auckland median house price.

  • Intend to own and occupy the affordable dwelling exclusively as their residence for no less than three years after gaining title to the dwelling.

  • Be a first home buyer and never have owned any other real property.

  • Be a natural person purchasing the affordable dwelling in their own name and not in the name of any other person.

So if you think you qualify for these SHA housing options it would be a good idea to be investigating it now. The problem is where are these homes?

 

This is where 3 sections at Millfield Lane in Papakura-Clevedon Road  can provide options.
 

Under the SHA agreement the developers at Millfield are required to sell three bedrooms freehold houses at a maximum of $578,250. This means there is a window of opportunity for first home buyers to buy this land and build a family sized home at a price below market value. We sold a similar section to a young family and they are in process of building their 1st home with the help of Latitude Homes.


LATITUDE HOMES - AFFORDABLE NEW HOME BUILDERS
They are a Registered Master Builder with years of experience building houses New Zealand wide. They believe every Kiwi should be able to afford a new home and they work hard to make building your new home a possibility. With 40+ plans they have something to fit every budget and lifestyle.

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