A new financing programme to lift developers' moods around residential construction
A new financing programme to lift developers' moods around residential construction
4 October 2024
The Government's new Residential Development Underwrite enables large developers to access the finance needed to deliver houses on time.
Only developments with at least 30 houses are eligible and the developer has to provide evidence it needs support.
Housing Minister Chris Bishop says the sector's vulnerable to economic downturns - with builds typically taking at least 18-months.
He says underwriting will ensure houses are ready to go for buyers entering the market as interest rates drop.
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