Daily Archives: April 4, 2010

Government Dept seeking extra homes in Nelson Blenheim Christchurch

4th April 2010

In yesterdays Christchurch Weekend Press, buried away on the bottom half of Page A13 was an advert with the following header;

In comparision to the major metros of NZ like Auckland and Wellington, wages generally in regional parts of NZ are usually lower.

The flow on effect of this is that in towns like those targeted by the Department of Housing NZ’s advert, its becoming increasing difficult for average wage earners to buy a home.

In recent times, the Welcome Home Loan scheme has increased, in selected areas, the maximum loan amount that can be borrowed – from $280,000 to $350,000, it still remains the case that in certain parts of NZ, that amount barely covers the cost of a basic 3 bedroom home.

Nelson’s max loan under Welcome Home is $280,000 **(Median home price Feb 2010 – $358,750) although our neighbour Tasman District scores a hit here because the amount you can borrow increases to $350,000 ** (median home price Feb 2010 – $330,000 )

Further highlighting and recognising this gap between the desire of owning a home and actually realizing that is the fact that Nelson is one of only 5 regions in the whole country to participate in the Shared Equity Home Loans Program, with the stated goal of;

designed to bridge the afforability gap for modest income earners in Auckland, Wellington, Christchurch, Nelson and Queenstown

A substantial deposit would always certainly help out, but not everyone can say they are in that camp.

So the choice then falls to rental accommodation – and that’s where this add comes in, Housing NZ maybe interested in leasing your rental property.

Under the Home Leasing with Housing New Zealand page on the Departments website, they list locations they are interested in;

In our case;

  • Nelson, Marlborough and Christchurch region requirements
Suburb House types required
Christchurch — Addington, Avon, Bishopdale, Burnside, Cathedral Square, Chisnal, Edgeware, Ensors, Hagley Park, Linwood, Middleton, New Brighton, North Beach, North Linwood, Northcote, Phillipstown, Rangiora East, Rawhiti, Riccarton, South Riccarton West, Russley, Shirley East, Sockburn, Sydenham, Upper Riccarton, Waltham, Wharenui, Wigram, Woolston South, Woolston West. One to two bedrooms in stand alone houses

Four or more bedrooms in stand along houses

Nelson — Broads, Grampians, Isel Park, Langbein, Matei, Maitlands, Motueka East, Motueka West, Nayland, Nelson Airport, Richmond North, Tahunanui, The Brook, The Wood, Toi Toi. Two bedrooms in stand alone house

Four or more bedrooms in stand alone houses

Blenheim — Blenheim Central, Kaikoura, Langbein. Two bedrooms in stand alone houses

Four or more bedrooms in stand alone houses

The names used for the suburbs above are the electoral ones, so you may have to pop over to somewhere like Statistics NZ, and utilize their search function.

You’ll then discover that Langbein, as above, in Stoke actually is an overlay of Stoke, Nayland, Poets Corner along with Monaco thrown in.

On the web-page, they also mention certain minimum standards that the properties will need to have;

  • Insulated
  • Suitable heating appliance
  • Level access showers
  • Garage or car port preferred
  • Outdoor area
  • Pitched roofs

……..although they do seem to have dropped a previous minimum – and that was of mandatory construction made out of “permanent materials” with a preference for brick.

For further details on the whole scheme – start here

** – deposit required. Maximum with no deposit is limited to $200,000 loan.