Developer prices 41 homes at $650,000 for first-home buyers
The backers of a new housing development are aiming to give more first-home buyers a leg-up
Forty-one of the 51 three-bedroom, 117 square metre houses being built at Koru Kāinga in Wainuiomata will be priced well-below market rate at $650,000 and will be available only to first-time buyers.
With the national housing crisis having catapulted Lower Hutt’s median house price above $800,000, developers and sellers have been clamouring to get top dollar for their properties, but Koru Homes founder Adrian Chooi is bucking the trend.
Chooi announced his plans to build a smaller development at the site last year, but has since revised the scale.
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