NZ Urban Development news from the media | 19 May | 8000 more public houses to be delivered

8000 more public houses to be delivered

The Government will deliver an extra 8,000 new public and transitional homes through Budget 2020, in a move that will stimulate the residential construction sector, create jobs and reduce the housing shortage.

The additional housing places will be delivered by Kāinga Ora, Community Housing Providers and transitional housing providers. Kāinga Ora will finance its proportion of the additional 8000 places by increasing its borrowing over the next 4-5 years, anticipated to be approximately $5 billion. Budget 2020 delivers $570m of Income Related Rent Subsidy funding to support this build programme.

This investment is in addition to the 6,400 public housing homes currently being built, in the pipeline or otherwise delivered, and the 1,000 transitional homes announced in February as part of the Homelessness Action Plan. We are also providing $100m of income related rent subsidy funding to deliver 1,650 extra places ahead of schedule over the last two and a half years.

https://www.beehive.govt.nz/release/8000-more-public-houses-be-delivered

Major investment in infrastructure projects

The COVID-19 Response and Recovery Fund has set aside $3 billion to fund infrastructure projects across the country. This is in addition to the Government’s $12b New Zealand Upgrade Programme and Provincial Growth Fund infrastructure investments.

Budget 2020 and the COVID Response and Recovery Fund (CRRF) will inject fresh capital, confidence and jobs into our economic recovery as quickly and efficiently as possible.

Ministers will soon decide which projects to progress and consider advice from the Infrastructure Industry Reference Group (IRG) which has received a total of 1924 submissions across approximately 40 sectors with a combined value of $136b.

https://www.beehive.govt.nz/release/major-investment-infrastructure-projects

Auckland monthly housing update, May 2020

May highlights:

• 1187 dwellings were consented in March 2020.
• In the year ending March 2020, 14,932 dwellings were consented in the region.
• 41 per cent of new dwellings consented in March 2020 were houses, 16 per cent were apartments and 44 per cent were townhouses, flats, units, retirement village units, or other types of attached dwellings.
• 58 dwellings were consented on Kāinga Ora or Tāmaki Regeneration Company owned land in March 2020.
• 1117 dwellings consented in March 2020 were inside the RUB. Over the past 12 months, 94 per cent of new dwellings consented were inside the RUB.

https://www.knowledgeauckland.org.nz/media/1808/auckland-monthly-housing-update-05may-2020.pdf

Rebuilding tourism together

A $400 million targeted Tourism Recovery Fund, alongside the extension of the Wage Subsidy Scheme and a domestic tourism campaign, assisting the industry to recover and restart, Tourism Minister Kelvin Davis announced today.

“This targeted package will go over and above the Government’s broad-based support of businesses and workers, and reflects the importance of tourism to Aotearoa, our economy and our people,” Kelvin Davis said.

“When forming this response package, my colleagues and I carefully considered feedback from industry. Initial, wide-ranging consultation identified a strong desire for a deep look at the future of tourism, but also significant short-term pressures because of COVID-19.

https://www.beehive.govt.nz/release/rebuilding-tourism-together