Government announces new Kiwibuild targets

Phil Twyford announced:

We announced on the 31st of January that we are recalibrating Kiwibuild and its targets.

The Coalition Government is now in a position to announce our new targets to demonstrate we are on track to deliver 100,000 homes over ten years for first home buyers.

The old and new targets are shown below:

• 1 July 2019 1,000 150
• 1 July 2020 6,000 750
• 1 July 2021 16,000 2,500
• 1 July 2022 28,000 5,000
• 1 July 2023 40,000 10,000
• 1 July 2024 52,000 20,000
• 1 July 2025 64,000 40,000
• 1 July 2026 76,000 60,000
• 1 July 2027 88,000 80,000
• 1 July 2028 100,000 100,000

This looks absolutely unrealistic. The Government is saying in their first term they’ll now manage only 2,500 houses (probably right) but in a second term they’ll build 15,000 (a stretch) and in a mythical third term they’ll magically build 60,000 houses.