October 5, 2021

NZ Urban Development news from the media | 5 October 2021 | GPS sets long-term direction for housing, urban development

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Hi *|FNAME|*, Please find below Urban Development News from the media from the week of 5 October 2021.

Provided by Rockhopper Development Management & Advisory, a member of:

GPS sets long-term direction for housing, urban development

The Government has today laid out its long-term vision for housing and urban development in Aotearoa New Zealand, ensuring we have the infrastructure and homes needed to nurture thriving communities in the decades to come.

The Housing Minister Megan Woods says the Government Policy Statement on Housing and Urban Development (GPS-HUD) provides clarity to all those working within the system about how Government policies and investments will align to tackle the acute challenges of the housing crisis today.

“Our vision is that everyone in New Zealand lives in a home and within a community that meets their needs and aspirations,” Megan Woods said.

https://www.beehive.govt.nz/release/gps-sets-long-term-direction-housing-urban-development

Details of interest deductibility rules released

The Government has released the draft legislation outlining the details of the policy limiting the deductibility of interest costs on residential property investments.

Finance Minister Grant Robertson said the interest limitation proposals, announced in March, aim to stem investor demand for existing residential properties. They do not affect the main family home or new builds.

“Earlier this year we extended the bright-line test from five years to 10 to help reduce the incentive to invest in housing over other types of assets.”

https://www.beehive.govt.nz/release/details-interest-deductibility-rules-released

Kāinga Ora awards first contract to build prefab transitional homes

The first contract in a massive Kāinga Ora effort to use off-site manufacturing to supply ready-made transitional and public housing has been awarded.

Builtsmart will build 51 three and four-bedroom homes at its facility in Huntly, which will be transported by trucks to new sites in the likes of Rotorua.

Once work begins in mid-October, Builtsmart general manager Cameron Beverland said it was scheduled to take 33 weeks to complete the entire order.

https://www.stuff.co.nz/business/property/300417513/kinga-ora-awards-first-contract-to-build-prefab-transitional-homes