Just the incentive first time home buyers needed to build part two

Most of the home builders in NZ and not only wellington, are apprehensive of the proposed $5000 remission scheme. As they think this will not be able to make people want to build.

  Elaborating on this they said that the average first-home builder was looking at a minimum of $200,000 for a plot and $400,000 minimum for a build.

                     Most  of the time it is a case of under productivity as people will buy the land but when the builders will cost it for them, the costs will fly out of their budget plans. So, most of them have to say no to build in the budget that they are talking about.

                        Those who did pursue a first build had more money than the average. Mostly it’s the parents who are funding the new house.

     However, some of the builders were supportive of the rates remission, but also doubted whether it would boost the stock of inner-city homes.

                   But were of the opinion that it certainly wouldn't do any harm to try this. Even if this doesn’t work, the message that the council is giving out a rates rebate, that's a message that the council is supporting first-home builders. This could only encourage home buyers into home builders.

Just the incentive first time home buyers needed to build part one

The proposed $5000 rates remission to provide incentive to first time home buyers into getting their house built , has  received mixed feeling from builders here in Wellington. Most builders here believe that  this would do precious little for builders in wellington,  as they fear that this ia not enough to boost the supply of new homes in the city.

                       But after reading our two part series, you will definitely understand how this is benefitical not only for the city to grow horizontally, but vertically too. The wellington City Council has been vocal about increasing the stock of new housing, particularly of apartments.

                                      The rates remission initiative, which would have no impact; on rates, is aimed at New Zealand citizens or residents planning a new build as their first home working by giving back part of the cost of the house back to you.

   The deal is expected to be formally adopted by the council at a meeting on Wednesday, was a way to provide incentive to the construction of apartments. The construction of apartments was stressed more as the council wanted people to be able to afford to live in the central city. Hence wellington needed to grow up, not just out.Quite like other urban centers in NZ. 

For house builders in NZ, click here