Minister for Building and Housing
Hon Nick Smith
600 more Christchurch homes a step closer
A $300 million, 600-home development on land at Christchurch’s Riccarton Racecourse is a step closer after the signing of a deed today, Building and Housing Minister Dr Nick Smith says.
“The deed, between the Crown, Te Rūnanga o Ngāi Tahu and the Riccarton Racecourse Board of Trustees, is the next step required to lift the reserve status and allow the development of 600 homes to start on land at the racecourse. The housing development has been facilitated by legislation passed by Parliament in June. This development adds to three set up under the Christchurch Housing Accord, between the Christchurch City Council and the Government, which aimed to increase the longer term supply and affordability of homes.
“This development, alongside those at Awatea, and Colombo and Welles streets, are the final phase of the Government’s housing response to the Christchurch Earthquakes. These developments, on Government and council land, are aimed at boosting the long-term supply of homes with a focus on increasing the proportion in the more affordable price range. The first of these 1000 homes were opened at Awatea in March.”
The Government also released today the sixth report on the Christchurch Housing Accord, agreed with the council in 2014.
“I am hugely encouraged by the progress we are making in Christchurch, where the market is now well recovered from the loss of 10,500 homes in the quakes. Rents in Christchurch have declined by 7 per cent in the past year as compared to a national increase of 3 per cent, and house prices have increased 2.6 per cent compared to the national increase of 14.2 per cent. It is also pleasing we are well ahead of the Housing Accord target of having 700 additional social houses finished by December 2016, with 772 completed at June 2016.
“Housing in Christchurch was an acute problem two years ago, with costs rising rapidly and record numbers of people requiring emergency housing. We are now well down the road of recovery. The completion of these four Government-initiated housing projects and the council’s new housing organisation will help give Christchurch a mix of social and affordable housing to meet future needs.”
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