Surplus Southland state houses for sale
Eight southern state houses are up for sale as the Government rearranges its housing portfolio.
Forty-one state houses, including properties in Bluff, Gore, Balclutha, Cromwell and Invercargill, went on the market yesterday through the Housing New Zealand FirstHome initiative.
Under the scheme, Housing NZ will grant first-home buyers 10 per cent of a property's market value when they buy a surplus state house.
The initiative will help provide more affordable housing but also free capital so the agency can invest in high-demand areas such as Auckland.
Housing NZ South Island regional manager Symon Leggett said the properties for sale were no longer suited to the needs of clients.
The agency owned several three-bedroom houses in Invercargill, where the greatest demand was for smaller properties, he said.
The cheapest southern houses are in Invercargill and Bluff, listed for $78,000, while the most expensive is listed for $235,000 in Cromwell.
FirstHome properties in Invercargill and Bluff were listed through First National Real Estate, and sales consultant Debbie Jamieson said houses would be sold on a first in, first served basis.
Properties would be sold at valuation and there would be no price negotiations, she said.
Mrs Jamieson anticipated high interest in the properties, as entry-level homes were in demand.
However, Harcourts manager Wayne Ellis believed the initiative would have more impact in centres where pressure on the housing market was stronger.
New lending restrictions meant more first-home buyers were now looking at lower-end properties, but there was still a shortage of good medium-priced stock in Southland, he said.
There are 467 state houses Southland, 42 of which are vacant.
ARE YOU ELIGIBLE?
To buy a FirstHome state house, buyers must:
- Be a New Zealand citizen or permanent resident aged 18 years or older;
- Intend to live in the house for three years. Not currently own property or land;
- Have an income equal to or less than the national average ($53,000 for one person, $80,600 for two or more);
- Have pre-approved finance. Source: HNZ
- © Fairfax NZ News
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