Time is right for cheaper housing developments, says lenderDevelopers and financiers made good money over the recent property boom, James Kellow said, and were willing to take lower returns with lower risk, on more modest developments. First-home buyers could soon have more options as developers move from big-ticket, big-money projects to cheaper, sure-to-sell developments. Affordable housing projects were more feasible in the city thanks to the Unitary Plan, passed in 2016, he said. Developers and financiers had also made good amounts of money over the recent property boom, he said, and were willing to take lower returns with lower risk, on more modest developments. "A few years ago, I would never have imagined we'd be involved in affordable housing projects all around Auckland - Panmure, Mangere, Glen Eden, Henderson, Manurewa, Mangere, Takapuna and Northcote - but we are."

Source: Stuff March 06, 2018 22:41 UTC