Aspiring homebuyers could own a modern, designer home in Springpark, a new affordable housing development planned for Mt Wellington, Auckland, for similar weekly costs as renting.
Analysis on mortgage repayment figures and average rent levels show that homeowners could effectively swap their rent cheque for a mortgage, and for similar weekly outgoings, move in to their own brand-new home in Springpark.
Colliers International is handling the sale of two, three and four-bedroom affordable homes in Springpark, priced from $399,000, which will be built on a 10ha site at 33 Panama Rd, Mt Wellington.
Colliers International Auckland based Managing Director Charles Cooper said that while ‘affordable’ does not mean the same thing for every home buyer, truly affordable housing is priced at a level which enables renters to make the move to home ownership with comparable weekly costs.
“Rental figures around the Auckland isthmus show that a large portion of existing renters would be able to buy a home in Springpark and get started on the housing ladder,” he said.
Affordable homes
With average house prices in the Auckland region still well above $600,000, Springpark offers buyers a quality product at a truly affordable price, he said.
The added benefit of the Kiwisaver first home deposit subsidy means that some buyers will be able to receive a further leg-up into the housing market.
“Affordable housing is the topic on everyone’s lips, but there have been very few viable affordable housing developments launched in Auckland to meet the huge demand which is continuing to build. To date, there is no mass housing being built at an affordable level, so this is just what Auckland needs and we are receiving a lot of interest in Springpark,” Mr Cooper said.
Part of the reason the houses can be sold at low prices is that Springpark is an existing commercial site, he said.
“The site is provided with mains water, electricity, waste water and other services, which means that the houses can be built at lower cost than subdivisions on previously unused rural land,” Mr Cooper said.
Ten-year guarantee
Design and build quality is the developer’s top priority in this attractive new residential estate, with the 450 predominantly terrace-style homes designed by architects Studio Pacific and constructed to a high standard, exceeding building code requirements, with 10-year master build guarantees in place.
Mr Cooper said that the land, currently used as a plant nursery by horticulture company Zealandia, will be transformed into an attractive place to live.
The central location, with easy access to public transport and amenities, is one of Springpark’s key benefits, he said.
A bus stop outside the site on Panama Rd provides direct connections to Sylvia Park, which is just 2.3 kms from Springpark.
“Sylvia Park provides a huge variety of shops and amenities including supermarkets, specialty shopping, large-format stores, cafes and cinemas, as well as convenient direct train connections to Newmarket and Auckland CBD. There will be no need for Springpark residents to travel a long way to access their daily shopping, entertainment and transport requirements – the development is perfectly positioned giving residents the freedom to enjoy their lives,” Mr Cooper said.
Less than a quarter of the Springpark land will be used for construction.
Attractive houses
Parks will be a major feature of the finished development, with houses covering only 22% of the site. The rest will be landscaped areas and communal gardens, creating an attractive, green environment with lots of open space.
The attractive, modern houses will contain many green features to reduce energy wastage, providing occupiers with reduced bills. These include double-glazed thermal windows, low energy light fittings, insulated foundations, double-layer wall and ceiling insulation, efficient plumbing fittings and taps and solid-core, sealed front doors.
They will be constructed in clusters joined by concrete slab firewalls, and feature parking (either a lock-up garage or an on-site car park or both), front and rear courtyard gardens, a service area for rubbish and recycling and fully fitted-out kitchens and bathrooms. Some of the three and four-bedroom houses will feature two lounge rooms.
Auckland Mayor Len Brown said, “As the City continues to grow, we will need a much greater range and choice of homes to meet the needs of different households and to help improve housing affordability. I appreciate the efforts of the developers in putting forward the Springpark proposal.”
The above article was supplied by Alice Talbot, PR & Communications Manager, Colliers International, Auckland
