Scheme puts home ownership in reach

People looking to get into their first home have 11 chances to do so in the Wanganui region.

The houses are mainly two-bedroom Housing Corporation dwellings and the corporation has nine for sale in the city, as well as one in Marton and another in Bulls, under its FirstHome ownership programme.

The properties, which are surplus corporation rental stock, were released last month and most are priced from $55,000 to $60,000.

FirstHome is aimed at giving people on modest incomes the chance to purchase their own home and the Wanganui houses are part of 400 to be released nationwide in three years.

Thirty-eight houses have been sold in other provincial regions since the initiative was launched in October 2013.

The properties offered in the Wanganui region went on the market last month but none has been sold.

The city portfolio includes two three-bedroom homes offered at $60,000, as well as seven two-bedroom houses priced from $55,000-$60,000. The bulk of the city properties is in Gonville and Aramoho.

The two-bedroom home in Marton is being marketed at $60,000, while a similar sized - and much newer - property in Bulls has been priced at $100,000.

To qualify, applicants must be New Zealand citizens and first-home buyers, have earned an income equal to or less than the national household average. For one person that is $53,000, and $80,600 for two or more people. They must also commit to the house for at least three years

This is the first time homes have become available in the district under the programme.

The corporation's Sean Bignell said interest had been high from the start.

"This is an initiative that is committed to providing sound homes to people on modest incomes," Mr Bignell said.

Those eligible for the scheme have been further supported by the grant of 10 per cent of the purchase price capped at $20,000 and he said this had helped with the deposit.

For more information go to: www.hnzc.co.nz