Govt Wants Houses On ‘Banked’ Land

landThe Government realises it now needs to add more temptation so land bankers build houses. The recent increases in land value has seen land sit empty even though if developed 45,000 homes could be added to the property market in Auckland.

The designated special housing areas were fast tracked by the Government however while the land is ready for the homes – the developers are not ready to build the homes. Developers are reluctant to ‘let go’ of the land while the value is still going up.

This property sold on the weekend for just under $1.4million. The property has no power, bedrooms or bathroom. It’s CV was $750K (and the seemed very high!)

Auckland needs land bankers to develop properties quick smart and the Government believes it’s probably found a way to get the Developers building – read more here. First Home Buyers may get double the incentive from the Government and Developers may see more they’ll be better off building the end product before land values drop with the release of more land.

It may be a game of ‘cat and mouse’ for a few months to come and property investors are carrying on with their business amid all the fuss in the market.

PropertyTutors clients are doing property deals that provide a ‘win, win’ and it’s a much needed service in such a tight market.


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