Govt to invest more in infrastructure projects to unlock new homes

“This significant funding will help pave the way for new developments in towns and cities where more housing is needed,” Megan Woods said.

Critical infrastructure projects will get Government support to unlock thousands more homes in communities around the country, Housing Minister Megan Woods announced in Hamilton today.

The third round of funding from the Government's Infrastructure Acceleration Fund (IAF) will invest $539.8 million on ground work like pipes, roads, and flood protection to enable thousands of new homes in communities, from Kaikohe to Hokitika.

"This significant funding will help pave the way for new developments in towns and cities where more housing is needed," Megan Woods said.

"We are turning around the housing crisis we inherited by stripping back red tape to get more housing built, and investing in the long-neglected critical infrastructure needed to prepare land so it's ready to build on.

"Laying the literal groundwork like this with roading, and three waters infrastructure for drinking, waste and storm water, means new housing projects that include affordable housing, can get underway faster.

"A total of 13 proposals have been allocated funding from this round of the IAF in 11 centres of the country; Hamilton, Auckland, Tauranga, Christchurch, Kawakawa, Kaikohe, Westport, Upper Hutt, Waipukurau, Hokitika and Pahiatua. Combined, they are expected to enable around 16,600 new homes to be built across multiple developments over the next 10 to 15 years.

"The IAF funding will support intensification developments in Auckland, Hamilton and Tauranga to enable connected, inner-city communities. In Westport we are funding infrastructure works such as an arterial road and bridge upgrade to help facilitate increased housing options away from existing flood-prone areas.

"Meanwhile in the Far North, IAF-funded infrastructure projects include a road extension and significant wastewater and stormwater upgrades, which are expected to enable hundreds of new homes across developments in Kawakawa and Kaikohe.

"The IAF is supporting a wide range of residential developments in areas of high housing need, with positive results for communities in these regions.

"Today's announcement follows on from earlier IAF funding allocations of $6.1 million in December last year, $179 million in July, and $192 million last month (October).

"This means, to date, $916.3 million in IAF funding has been committed to infrastructure projects throughout the country. Combined, these IAF-funded projects are expected to enable around 30,000 to 35,000 new homes for New Zealanders over the next 10 to 15 years, Megan Woods said.

(With Inputs from New Zealand Government Press Release)