11 oct. 2010 - Gateway Housing Scheme for First Home-Buyers - starts

Description:

2010-2012

The Minister of Housing launched the Gateway Housing Scheme designed to make it easier for first-time buyers and those on lower incomes to build or purchase a home. It was announced that 30 parcels of Crown or Housing New Zealand Corporation land had been identified and made available for the Scheme. The scheme was launched in Beauzami Crescent, Porirua, where Habitat for Humanity had undertaken to develop two sections into three, to create affordable housing opportunities. Of the remaining sites, 17 were in Hobsonville, Auckland. The others were in: Gisborne; Hamilton; Hastings; Palmerston North; Ashburton and Dunedin.
The Gateway Housing Scheme offered sections on advantageous terms for first home buyers. First home buyers and low income families could build or buy their own home and defer payment on the land for up to 10 years, during which time the section could be purchased for a pre-agreed price. They must have a 10 percent deposit on the house cost. In return, households were required to build a new house and occupy it for at least the term of the deferred payment period.
There were two types interest on the land. A fixed rate set at 3 percent and calculated annually and added to the original balance. The second type of interest was not payable in the first five years, but levied at 1 percent of the original balance in years six and seven, 3 percent in years eight and nine and 5 percent for year ten.
The scheme aimed to increase housing supply, support home ownership and make better use of state land holdings.
Households who met the KiwiSaver home deposit subsidy criteria were eligible for the scheme. At that time this represented households with a gross income of up to $100,000 per annum (or $140,000 for three or more borrowers living in the same house). Borrowers who were members of KiwiSaver were able to apply their housing withdrawal and deposit subsidy towards the purchase of the house.
Community Housing Organisations were actively targeted for the scheme as they were able to develop land and use favourable capital and interest repayment terms to build even more affordable housing.
From May 2012, as a result of low take-up, the Scheme was discontinued.


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

Ajouté au bande de temps:

Date: