KiwiBuild ballot opens next week for Onehunga apartments

Property

Construction starts on KiwiBuild's first Buying Off The Plans project - 25 apartments in Onehunga

13th Sep 18, 8:36am by Greg Ninness

Another tranche of KiwiBuild homes is coming on to this market, this time in the Auckland suburb of Onehunga.

Eligible KiwiBuild buyers will be able to go into a ballot next week for one of 25 apartments that are part of the @340 development in Onehunga.

They will include six studio apartments priced from $380,000, 12 one bedroom apartments priced from $490,000 and seven two bedroom apartments priced at $600,000.

Construction of the project starts today and is due to be completed in August next year.

Housing Minister Phil Twyford said the apartments would be built to a high standard and would have fittings such a blinds, dishwashers and washer/dryers included in the price.

The apartments are the first to be offered to the market under KiwiBuild's Buying off the Plans scheme, whereby the Government partially underwrites a development by guaranteeing to buy the finished apartments if the developer can't sell them at a certain price.

In return, the developer needs to offer a certain number of units to KiwiBuild buyers within the KiwiBuild price limits.

The scheme is designed to assist developers secure funding for projects while ensuring homes are made available under KiwiBuild's price limits.

Only eligible, pre-qualified buyers can enter the ballot for KiwiBuild homes, so anyone who is interested should visit the KiwiBuild website and begin the pre-qualification process.

Below: An artist's impression of the interior of one of the completed apartments.

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26 Comments

by PropertyPrices2Fall | 13th Sep 18, 8:43am 1536785039

Slap in the face to those that ridiculed the pace of KB

by Davo36 | 13th Sep 18, 8:59am 1536785997

25 units? That were going to be built anyway?

by Pragmatist | 13th Sep 18, 9:10am 1536786632

Were they? Or was the developer having trouble with financing and pre-sales? Why else would the developer commit to pricing now and within KB parameters if he was all go for building and selling on the open market?

More righty/landlord mud slinging. Loving watching you guys bitch and moan.

by JimboJones | 13th Sep 18, 9:31am 1536787888

Yes there is a lot of risks right now for developments - price crash, material price increases, labour price increases, availability of labour. The may find it quite hard to get finance without Kiwibuild...

by Auckland | 13th Sep 18, 9:16am 1536787012

PropertyPrices2Fall - Going by your name I think you will find this very interesting.https://www.youtube.com/watch?v=qcmED6NHb2o
I would hate to pay those asking prices for the apartments with whats coming!

by JimboJones | 13th Sep 18, 9:28am 1536787702

Interiors look nice.

by Pragmatist | 13th Sep 18, 9:42am 1536788543

Marketing bunmpf... ignore and see what the real deal is in a year when there is actually something to look at.

by Boatman | 13th Sep 18, 10:36am 1536791801

$380,000.00 for a STUDIO APARTMENT !

Do me a favour , this is a rort plain and simple .........How much is that per square metre ?

Given that most studio apartments are 45m2 It could be as much a $9,500 / m2 , and anyone paying that much in Onehunga needs to seek mental help .

Any bank funding that also needs to be prosecuted............ for reckless lending .

by pacifica | 14th Sep 18, 12:18am 1536841136

How is it you have missed new build apartment costs for the past half decade on a website that literally lists apartment sales. Did you just wake up after a coma?

by THE MAN 2 | 13th Sep 18, 10:39am 1536791967

Geez they look oh so spacious.
You are onto a winner there!
These are going to be just great for family living, be in!!!

by Pragmatist | 13th Sep 18, 11:06am 1536793574

Plenty of people who don't have/ want kids that would love a decent apartment in Onehunga. I'll almost certainly put my name down for one of these, great location, I could walk or ride to work, right on a good transport corridor, Dressmart shopping centre just down the road, One Tree Hill/Cornwall park just up the road, Jellicoe park and pools a 5 min walk away.

A 2 bedroom apartment for a couple like us would be great, I get my office/toy room, she can have the rest of the apartment to herself :)

by Boatman | 13th Sep 18, 10:39am 1536791960

And how on earth can a 2 bed apartment in Onehunga , the closest thing to a slum in Auckland, cost $600,000?

by Pragmatist | 13th Sep 18, 11:01am 1536793276

If you think thats bad, then you'll have a heart attack when you see the apartment block about 2km away that are advertising for off the plan sales of 1, 2 and 3 bedroom apartments "starting from $620k."(ie. Plus parking space and fitout upgrades. But they have views of the motorway, HV pylons and the Manukau mudflats.

And if you think Onehunga is a slum, you are off your meds.

by Penfold | 13th Sep 18, 2:02pm 1536804148

Suburb name starts with an "O", it must be a slum. Just like Otara, Otahuhu and Orakei.

by pacifica | 14th Sep 18, 12:17am 1536841055

Orakei? You might as well said everything starting with W.

by Fritz | 13th Sep 18, 8:33pm 1536827607

that's a good deal in the current market, and shows the real potential of Kiwibuild
Onehunga is a touch rough, but it's also full of character and very handy and close to some great amenities (like One Tree Hill)

by pacifica | 14th Sep 18, 12:28am 1536841722

Again a coma could easily describe how you missed seeing the sale prices for new builds in the country's largest city notable for the extremely unaffordable housing crisis in the past few years so bad it gets a special mention from many international groups. Do you have over half a million for an existing property in the same area around the same size? Well it doesn't matter the investment market does and yes I have explored purchasing short term properties in Onehunga over 10 years ago, it was unaffordable then, and not related to the out of date values many biased people think of as if they are trapped in the 1980s and not even looking at the market; unable of doing a quick check on sales online https://www.qv.co.nz/suburb/onehunga-auckland-1107/sold

by ngakonui gold | 13th Sep 18, 11:20am 1536794400

My biggest concern is NEIGHBOURS.
One crap neighbour and the block will become a Chicago project.

by Pragmatist | 13th Sep 18, 11:25am 1536794735

No Housing NZ homes going in there, so it should be fine. And anybody that can satisfy the banks they can service a mortgage cuts out the worst of the riff-raff.

by pacifica | 14th Sep 18, 12:41am 1536842504

To be honest I'd be more worried about the meth importing neighbours on the Shore. Sure there is a sea view and a beach but that does not make it any better when the meth lab burns next to the yacht club and the dog needs to be checked for poisoning (alongside all the dogs left to roam & shit on the streets without their negligent abusive threatening owners with broken down cars left on roadsides) and rubbish & sewage gets dumped by the lake & beaches to the point the water is too toxic to swim in. Oh and the golf courses are completely rubbish, would have been better to have variable use parks that families would be allowed to use and bring their children to. Plus all the large scale sewage flooding of people's homes and public spaces.

by Pragmatist | 13th Sep 18, 11:30am 1536795029

Hmmmm, from the KB email "[inspections of the display suiter are] available every day between those times until the ballot closes in a month's time."

So the ballot closes in a month, and completion isn't until middle of next year.. So buyers are committing to something they haven't seen? When is payment due?

I thought one of the big advantages of the buying off the plans was that the KB govt backstopped the construction and the ballots would happen when construction is completed or nearly completed.

by B-Rocker | 13th Sep 18, 11:32am 1536795165

Fantastic. Mother Russia will be so proud of us, using a ballot system to ration out limited goods and services.
All those people who have been trying to save hard to buy a house must be so happy now that their hard earned tax is going to fund somebody else into a house.

by THE MAN 2 | 13th Sep 18, 3:21pm 1536808886

Twyford Sid KiwiBuild was for affordable housing for families, so presumably families will be able to live in a STUDIO?
Are there plans out yet that you can see these spacious KiwiBore homes?

by THE MAN 2 | 13th Sep 18, 3:29pm 1536809373

Twyford says they are on track to have 1000 KB homes built by mid 2019!
Even the Onehunga ones won’t be built by then so where are the other close to 1000 being built by that time?
We all know he is talking BS

by Boatman | 13th Sep 18, 5:47pm 1536817627

Twyford has told so may porkies since he became housing minster , we now now longer believe anything he says .

The whole scheme was unworkable to start with and someone should tell him that when he is in a big hole to stop digging

by Property Leader | 13th Sep 18, 6:54pm 1536821695

I object to Twyford being accused of talking BS. He is talking like a real estate marketer. Promising a wonderful outcome if you trust him and give him your money in return for vague pie in the sky. I wonder if he will be prosecuted by commerce commission for false dodgy marketing.