Affordable apartments attract first-home buyers

by Krizzel Canlas22 Aug 2018

A soon-to-be-built 56-apartment development in Newtown is set to provide much-needed affordable first-home options for Wellingtonians, says Century 21.

“Forty-one of the apartments have already been presold, proving the Wellington first-home buyer market will roar when the right product is delivered,” Alen Moshi of Wellington’s Century 21 First Choice Realty said.

Moshi noted the two-bedroom apartments are affordably priced starting from $550,000. They also qualify for the Welcome Home Loan grant of $10,000 for an individual or $20,000 for a couple. Potential home-buyers can add this grant to their KiwiSaver to form a deposit.

“We anticipate huge interest,” he added. “This development is living proof you can still buy a brand new attractive apartment in inner-city Wellington for an affordable price.”

Wellington Mayor Justin Lester, meanwhile, said: “The private sector is a key piece of the housing puzzle, and the benefit of being serious about affordability means that it becomes an option for more people to buy homes – particularly for young families and first-time homeowners.”

The mayor also said it’s important that developers and agents are talking to prospective first-home buyers and first home builders about the council’s $5,000 rates rebate, which became available from July 01.

“As a city, we are all working towards the same goal of making sure that we’re making Wellington an affordable place for people to live in,” Lester added.

 

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