PHOTO: KiwiBuild
First National Real Estate Chief Executive Bob Brereton believes that KiwiBuild’s housing development in Te Kauwhata will be a flop.
The Te Kauwhata homes will be part of KiwiBuild’s 1,600 home lakeside development that features a café, restaurant, medical centre, small office space, and childcare centre.
However, Brereton said that market demand does not measure up so the government will be left with 175 homes and only a few buyers, if any.
“The demand to buy a first home in Te Kauwhata simply doesn’t exist and the Government is just repeating the mistakes of the much publicised Wanaka debacle. Building 175 new homes in a location with little employment and a large commute to Auckland is madness and will almost certainly end with most of the KiwiBuild homes failing to sell,” said Brereton.
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