KiwiBuild Q+A: How to get into the affordable housing scheme

Just over 17,000 people lured by the chance to get an "affordable" home have flocked to register their interest in one of the 100,000 KiwiBuild properties planned for the next decade.

Those who want to toss their hat in the ring can register here.

When registrations opened yesterday, 1000 people swarmed to it in the first hour and about 6000 people had done so by the end of the day. That number has now ballooned to 17,095 as at 11.15 today, a spokesman confirmed.

Who is eligible?

Those wanting to buy the houses must be either a New Zealand resident or citizen and not already own a home.

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Individuals can earn up to $120,000 a year and couples $180,000 a year and must live in the property for three years after buying it.

What happens when I register?

Once your eligibility is confirmed, you will enter the ballot and if your name is drawn you'll enter the queue to buy one of the properties.

Where will these properties be?

About 50,000 will be in Auckland, and the remainder spread around places like Wellington, Hamilton, Hastings, Queenstown, Tauranga and Nelson.

And how much will they cost?

Housing Minister Phil Twyford said the caps on the costs of KiwiBuild homes in Auckland are $650,000 for a three-bedroom house, $600,000 for a two-bedroom and $500,000 for a one-bedroom place.

How long do I have to wait if I'm drawn from the ballot?

Based on the high level of interest so far, demand is running far hotter than supply.

Twyford says 1000 KiwiBuild residences would be built in the next year, 5000 the year after that, 10,000 in 2021 and 12,000 a year average through to 2028.