Prime Minister Jacinda Ardern. Photo: Getty ImagesPrime Minister Jacinda Ardern has defended Kiwibuild as a government watchdog probes whether the scheme skirted rules by backing housing developments already in progress. Under the scheme, Kiwibuild guarantees developers a minimum amount for their properties, either by buying unsold stock or topping up shortfalls. “In some cases, a developer’s plans will mean that a development is phased. ”Ardern would not say whether the underwrite system would survive a long-awaited “reset” of the troubled Kiwibuild programme, or when the changes would be announced.

Source: Otago Daily Times July 16, 2019 03:00 UTC