Auckland’s housing market is set to be rocked by the launch of a rent relief scheme, with the city looking to build up to 300,000 affordable homes over the next four years.
The scheme, which is being launched by the Auckland Council on Monday, aims to increase supply of housing for low- and moderate-income Aucklanders.
The city will create 10,000 homes for low to moderate income households over the four-year period.
“We’re going to be making the housing system work for Aucklanders,” Auckland City Council Housing and Housing Development Minister Mark Bailey said on Monday.
“There are a lot of people who can’t afford to live in Auckland.”
They don’t have the resources, they can’t find housing and that’s what the Rent Relief program is designed to address.
“Mr Bailey said the scheme would increase supply, but warned that Aucklanders were “at a disadvantage” to people in Sydney and Melbourne who are able to afford to buy property in the capital.”
People are able … to buy in Auckland and to rent in Sydney or Melbourne,” Mr Bailey said.”
So that’s a bit of a mixed bag.
“But Aucklanders are at a disadvantage because we’ve got a lot more competition in Auckland than in Sydney, which means we’ve had a lot less competition than Sydney.”
The scheme is being introduced under the Housing and Planning (Hap) program, which was launched by Mr Bailey in September and is expected to help reduce Auckland’s rental crisis.
“This is a big deal, because it’s a housing relief scheme that allows people to buy homes that they might not be able to get otherwise,” he said.
The Housing and Urban Development Ministry is providing $40 million in support to support the scheme.
Mr Bailey says the scheme will help the city “create more affordable homes” for Auckland’s poor.
“What this scheme does is provide support to the city for low and moderate income Aucklanders, particularly people in Auckland who are unable to buy, or they can no longer afford, to live,” he told Radio New Zealand’s Morning Report.
“It gives the city more affordable houses that can be sold.”
Mr Mitchell, who has lived in Auckland for 20 years, said he was happy with the scheme’s launch.
“I feel like Aucklanders have had the housing crunch for a long time,” he says.
“My rent has gone up by over $300 a week.”
Topics:housing-industry,housing,housing-market,australiaFirst posted May 02, 2019 16:50:48Contact Ashley StirlingMore stories from New Zealand