Mayor Justin Lester has announced that a $5000 rates discount for first-home builders will take effect from July 1 and is being extended to cover new apartments.
“Affordable housing is one of the things we all love about Wellington. It’s what attracts people to come and build their lives here,” he says.
“In the face of a shortage of supply, we need to be doing more to incentivise construction of new homes for Wellington, especially for young families or people looking to get into their first home.
“That’s why I’m announcing we will be giving a $5000 rates discount to anyone building their first home in Wellington, buying a newly built home off the plans, or purchasing an apartment off the plans.”
He says getting a $5000 reduction on rates will be a real incentive to add to Wellington’s housing stock, especially in the central city.
“This is going to make Wellington stand out and will help us attract talent to live and work here. We’ll say to people if you want to build your life in Wellington, this is a place where you can own your own home and here’s some help to make it happen.
“It’s about being proactive, promoting Wellington and helping to tackle our housing issues while we are at it.”
The discount will be available to anyone who has not owned their own home before, and will allow them to claim the first $5000 off their rates from when they own a new home.
The Council’s housing portfolio lead and Deputy Mayor Paul Eagle says such action is needed in light of forecasts of growing supply.
“Historically Wellington has been building seven hundred to eight hundred new homes a year. We’re hoping to get that number up to over one thousand each year. That’s why we announced recently that we will be proactively building new affordable houses and why we are making today’s announcement.” he says.
The discount will be introduced as part of the Mayor’s annual plan at the end of the month.
– From Wellington City Council News