ZB

Affordability of Kiwibuild homes questioned

Author
Newstalk ZB Staff,
Publish Date
Mon, 21 May 2018, 7:20am
The suggested price for the affordable homes is being seen as unaffordable. (Photo / Getty)

Affordability of Kiwibuild homes questioned

Author
Newstalk ZB Staff,
Publish Date
Mon, 21 May 2018, 7:20am

The affordability of Kiwibuild homes has again been called into question.

The scheme will be limited to first home buyers and permanent residents, however buyers won't be income tested, meaning high earners won't be barred from buying.

Generation Homes chief executive Kevin Atkinson told Mike Hosking says the homes, costing up to $650,000, will still be out of reach for many.

"My view is that 650 isn't affordable. At the end of the day, your talking in Auckland 14 times income. That's just ridiculously high.

"New Zealand has had significantly declining home ownership anyway. So it's the middle class will be becoming the people who can't afford homes."

LISTEN TO KEVIN ATKINSON TALK WITH MIKE HOSKING ABOVE