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Minister for Housing and Urban Development Phil Twyford has announced 211 Kiwibuild homes will be built in the Northlake subdivision in Wanaka over the next two years, with the first 10 hoped to be completed and occupied by Christmas.
Ballots will open on October 8th for the first 10 homes in the development.
It will be the first Kiwibuild development in the South Island, and Mr Twyford recognised the ever-increasing difficulty for first-home buyers to break into the Queenstown Lakes District housing market.
“For first-home buyers who have been locked out of the market, KiwiBuild is providing the chance to buy an affordable modest, starter home in one of the most beautiful parts of New Zealand.”
Queenstown Lakes is one of the fastest-growing districts in New Zealand and, with the highest median house price in New Zealand, has faced major affordability challenges.
“In August, we raised the HomeStart and Welcome Home Loan price caps for Queenstown Lakes to $650,000 for new builds, bringing them in line with KiwiBuild.
"Our Government is taking a comprehensive approach to assisting first-home buyers in one of our least affordable areas,” Mr Twyford said.
The Northlake development is a master-planned community adjacent to Wanaka township, which will comprise over 800 homes.
Northlake will also have its own village centre, with shops, playground, childcare and healthcare centres, dining options and small business office space.
Northlake developer Chris Meehan said the first 10 Kiwibuild homes would be completed and occupied by Christmas, and the rest would gradually be released as blocks of 20 over the next two years.