Christchurch City Council rules out rates discount for inner-city new home buyers
A rates discount for new home buyers in central Christchurch is off the table after being rejected as an incentive to lift inner-city population.
The Christchurch City Council has also ditched the idea of providing a shared-equity scheme for the central city over concerns it will be duplicated by similar programmes run by the Government.
The decisions come after a new long-awaited report into the supply and demand of central city homes found the council has little influence over construction and land costs, which have the biggest impact on the cost of housing. The report was due in July last year.
The council wants 20,000 people living within the four avenues by 2028. The latest estimates from Stats NZ has the population at 7170, up 8.3 per cent on the previous year.
About 230 homes have already been completed in the central city this year, another 41 are being built and 127 are consented but work has yet to start. By the end of the year, more homes will have been built in 2020 than in any other year for the past decade.
But the council still faces an uphill battle to reach its population target, with another 4500 homes needed over the next eight years.
The report found inner-city residential developers are hampered by land supply and quality issues, uncertain demand, strong competition from the suburbs and finance conditions.
“Buyers are value conscious and the central city does not currently offer value compared to the same-priced alternatives,” the report said.
Potential buyers believed they could get better value for money in the fringe suburbs close to the four avenues.
Poll: Are Kiwis allergic to “exuberance”? 🥝
In The Post’s opinion piece on the developments set to open across Aotearoa in 2026, John Coop suggests that, as a nation, we’re “allergic to exuberance.”
We want to know: Are we really allergic to showing our excitement?
Is it time to lean into a more optimistic view of the place we call home? As big projects take shape and new opportunities emerge, perhaps it’s worth asking whether a little more confidence (and enthusiasm!) could do us some good.
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41.4% Yes
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32.3% Maybe?
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26.3% No
Brain Teaser of the Day 🧠✨ Can You Solve It? 🤔💬
How many balls of string does it take to reach the moon?
(Peter from Carterton kindly provided this head-scratcher ... thanks, Peter!)
Do you think you know the answer? Simply 'Like' this post and we'll post the answer in the comments below at 2pm on the day!
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Poll: Are our Kiwi summer holidays helping us recharge, or holding the economy back? ☀️🥝
There’s growing debate about whether New Zealand’s extended Christmas break (and the slowdown that comes with it) affects productivity.
Tracy Watkins has weighed in ... now it’s your turn. What’s your take? 🤔
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72.9% We work hard, we deserve a break!
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16% Hmm, maybe?
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11.1% Yes!
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