NZ Urban Development News - 27 November


Hi *|FNAME|*, Please find below Urban Development News from the media from the week of 27 November 2018.

New Housing and Urban Development Ministry

Minister of Housing and Urban Development Phil Twyford today announced a new Ministry will be set up to help the Government deliver on its priorities of making housing more affordable and our cities more liveable.

The new Ministry of Housing and Urban Development will be established from 1 August. It will officially start operating on 1 October. 

“Addressing the national housing crisis is one of the biggest challenges our Government faces. The new Ministry will provide the focus and capability in the public service to deliver our reform agenda,” Phil Twyford said.

Ryman forecasts 9pc earnings growth

Ryman Healthcare is forecasting at least 9 per cent full-year earnings growth as it expands its retirement village operations on both sides of the Tasman.

The company is projecting underlying profit of $223 million to $238 million for the year through March, up from $203.5m in the prior period.

Ryman today reported that first-half underlying profit, which strips out changes in property valuations, rose almost 14 per cent to $97.1m.

New Plymouth KiwiBuild houses set to sell for $100k more than suburb's median price

New Plymouth KiwiBuild buyers have a choice: Pay $326,000 for a median-priced Marfell home, or up to $450,000 for a KiwiBuild property.

Housing and Urban Development Minister Phil Twyford announced the plans for the development of 68 "modest starter homes" in New Plymouth on Tuesday.

He said many of the homes would be for sale under $400,000 and all would have a maximum price of $450,000. It would "rejuvenate an area that has been let with vacant lots and rundown houses," he said.

First of 900 central Christchurch homes finished, priced at up to $1.59m

The first homes have been finished in central Christchurch's 900-home east frame housing precinct, more than six years after the development was first announced.

Covering five blocks of land between Madras and Manchester streets, the east frame development is a $800 million anchor rebuild project intended to attract residents to the inner city.

Development company Fletcher Living, part of the Fletcher Building group, signed an agreement with the Crown in December 2015 to construct the apartments and terraced houses. The Crown is selling the land to Fletcher in stages after progressively buying up the five city blocks. The project has suffered numerous delays.

Only seven Wanaka KiwiBuild homes sell from ballot

Only seven of 10 KiwiBuild homes in Wanaka have sold.

The  development has been controversial - the ballot deadline was extended because only 20 applications had been received. Now it has been revealed that only seven sales will proceed. The homes are in a subdivision called Northlake. The four two-bedroom and six three-bedroom homes are standalone houses priced between $565,000 and $650,000.

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