The Real Estate Institute of New Zealand has welcomed the announcement from the Minister for Housing and Urban Development, Phil Twyford, about the eligibility criteria for KiwiBuild homes.
It's uncertain what criteria Hawke's Bay residents would need to meet.An REINZ spokesperson said the median house price for Hawke's Bay was $430,000 and had come down from a high $445,000 in March.
"We're waiting for clarification from the government on what the prices will be in the regions and we don't have that detail yet."
REINZ Chief Executive Bindi Norwell said the announcement will give thousands of New Zealanders hope that they may actually be able to afford their own home.
"With home ownership at its lowest point in 60 years, the KiwiBuild programme will help many young people and those on lower incomes to get a foot on the property ladder.
"The criteria announced seem relatively robust in that the homes will only be available to first time buyers or 'second chances' and that people must intend to own and live in the property for at least three years."
There was no doubt that Hawke's Bay was one of the regions subject to a housing shortage and REINZ believed the KiwiBuild scheme would be of great benefit.
"The region is seeing a lot of growth at the moment so we're hearing stories of banks tightening up their lending criteria. We're seeing a few more conditions come on board at the moment in terms of people making offers.
"So I think in terms of Hawke's Bay, it's going to be more of a 'watch this space' and as the detail comes out on the eligibility criteria to know whether they would or wouldn't be eligible."
Twyford said the Government aimed to build 1000 homes a year across the nation.
"We've seen a number of people go online and register - already, we've seen 1200 register before 12 o'clock on Wednesday, so that's already well over the 1000 homes a year mark.
"For Hawke's Bay, it's going to be more of a 'watch this space' and as the detail comes out on the eligibility criteria, people will be able to work out pretty quickly whether they're eligible or not."