27 Nov 2013

HNZ hopes to sell 41 houses by end of year

8:18 pm on 27 November 2013

Housing New Zealand hopes to sell all 41 houses listed early in October by the end of this year as part of its scheme to sell 400 houses to low-income earners in the provinces.

Luana Cuckow's home at Lauder Crescent, Invercargill.

Luana Cuckow's home at Lauder Crescent, Invercargill. Photo: Housing NZ

The agency says four deals have been signed and sealed so far.

Only first-time buyers qualify for the First Home scheme and must earn no more than $53,000 a year or $80,600 per annum if they are a couple.

They get a Government subsidy of 10% of the cost of the house, capped at $20,000, to put towards the deposit.

Luana Cuckow has just bought a property in Invercargill and said she would not have been able to afford the $118,000 home without the subsidy.

Ms Cuckow said she is happy to live in the house for at least three years as part of the subsidy criteria.