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  •   Home > News > Business

    More money but less housing

    More money but less housing

    21 September 2018
    The Government has re-announced a multi-million dollar loan to go towards the development of infrastructure in Auckland's northwest.

    It's saying a 339-million dollar interest-free loan will go towards building communities with 7000 new homes in Redhills and Whenuapai.

    That's three-and-a-half thousand fewer homes than the National Government promised a year ago - at an added cost of 39-million-dollars.

    Auckland Mayor Phil Goff says the figures aren't as high as they'd anticipated - but and they're realistic, and it's a step forward.

    He says with the backlog of housing that needs to be built there's a growth in the construction cost index and that affects the price of infrastructure.

    The international costs have also gone up and that has an impact on us as well.

    © 2024 Newstalk ZB, NZCity


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