Bespoke projects leading the wayKiwiBuild contracts just 10 percent of government’s 100,000 targetBespoke projects leading the way
1 March 2019
About 10,000 KiwiBuild homes have been contracted to be built by 2028 – just one tenth of the government’s 100,000 target.
Figures released to RNZ reveal that so far 10,355 KiwiBuild properties have been confirmed within the 10-year target.
The Ministry of Housing and Urban Development said that would swell as the ink dried on more contracts, but industry insiders were sceptical.
The government scrapped its year-on-year KiwiBuild targets when it became clear it would fall well short of meeting these.
Last month, the first year’s goal of 1000 homes was slashed to just over a third of that – and it had also ditched its 2021 target of 10,000 homes.
KiwiBuild’s 10-year goal remained at 100,000 houses – but so far, it had contracted just over a tenth of that.
A property development manager said that figure was no surprise.
Nigel Mckenna from Development Advisory Services said getting 90,000 more completed would be a hard ask.
“There are capacity constraints everywhere – infrastructure, land, resources, and finance, which ultimately mean it’s a tough target… I think the target will, ultimately over time, be revised downwards slightly.”
Housing and Urban Development Minister Phil Twyford, who is Australia, said in a statement the contracts so far were a great start to the programme.