dec 6, 1953 - Group Building Scheme - starts

Description:

The Group Building Scheme was introduced to encourage private effort in the field of housing. Sections were developed and made available by the Crown, to builders approved by the State Advances Corporation. To encourage low-cost housing development at a time of acute shortage, the price of the house and section was of a fixed maximum (according to locality) and the plans, specifications and standard of construction were subject to the requirements of the State Advances Corporation. The Scheme included an agreement whereby the State Advances Corporation undertook to buy the house(s) at a specified pre-construction price if the builder was unable to find a purchaser upon completion. At the peak of the Scheme in the mid-1950s, about 2,000 sections per year were sold to individuals and builders.

Source: https://www.msd.govt.nz/about-msd-and-our-work/about-msd/history/social-assistance-chronology-programme-history.html