Policy may not be good deal: Hargreaves
Professor Bob Hargreaves, of Massey University, is responding to news that, if it were in power after the next election, Labour would introduce a 10-year building programme, called KiwiBuild, to deliver 100,000 homes that would sell for about $300,000 to first-home buyers.
The properties would be a mix of standalone houses and apartments.
Hargreaves says most first-home buyers opt for second-hand homes because they represent better value. “At times the price of a six-month-old house is way less than a new property.”
He said while the price of new houses would not come down much, the price of second-hand homes could fluctuate a lot.
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