New housing accord to add almost 4,000 Queenstown homes

The first wave of new homes is expected to be completed this year with the remainder by the end of 2019

New housing accord to add almost 4,000 Queenstown homes
The government hopes to tackle the growing unaffordability of the popular town which has seen a boom in real estate activity.

“Queenstown is experiencing phenomenal tourism and population growth that is welcomed but is stretching the community’s housing and infrastructure.

"This renewed Accord builds on the work done under the previous agreement and is about ensuring we get the necessary housing, roads, pipes and community infrastructure to support the growth.,” construction minister Nick Smith said.

Last month a report by Colliers International warned that many Queenstown locals were being priced out by sharply rising prices as a growing permanent population settles in the resort town. 

With 1150 new homes planned for this year under the new housing accord, 1250 in 2018 and 1350 in 2019, Nick Smith hopes that affordability issues can be eased.

“These ambitious targets will involve the largest building boom in Queenstown’s history and is needed if we are to address the housing supply and affordability issues impacting on the district. It also extends the capacity to use Special Housing Areas (SHAs) in the Wanaka basin to free up land for development,” he said.

The new accord will help boost housing in nearby towns too with Dr Smith saying that he expects it to deliver a sustainable level of growth for Kingston too.