The New Zealand government has announced that funding of $ 700 million will be made available to build the infrastructure needed to accelerate housing developments. The money will be spent to accelerate projects on “ready-to-build land” to produce results as soon as possible.
The investment is part of the larger $ 2.7 billion Housing Acceleration Fund (HAF), which aims to promote Â
developments in large urban areas and regional centers that might not have been funded otherwise.
The projects are split between “Tier 1” projects that focus on cities like Auckland, Tauranga, Wellington and Christchurch, each of which will gain at least 200 homes, and smaller “Tier 2” projects in cities like Rotorua. , Palmerston North and Nelson, which will build more than 30 properties.
The last tranche of funding will be devoted to hydraulic infrastructure, sewer development, road works, flood management and projects requiring design or feasibility studies.
Megan Woods, New Zealand Minister of Housing, said: “The housing supply crisis is a decades-long problem that will take time to recover, but we are starting to make progress in increasing the housing supply. supply and this fund will make a real difference in increasing the supply. housing supply by helping to overcome a major barrier to construction – access to basic infrastructure.
“Investing in infrastructure has been identified by local councils and others as one of the key steps the government can take to increase the supply of housing in the short term.”
Further housing funding is expected to be announced later in 2021.
Image: Auckland (Rudi1976 / Dreamstime)
