The Government's former flagship housing policy is so far behind schedule it will take more than 400 years to reach its initial target of 100,000 homes. It had hoped to reach the target in 10 years.
Initially, the Government had been hoping the rate of building would increase over time as KiwiBuild ramped up, with 1,000 homes built in the first year, 5,000 in the second, and 10,000 in the third, but the rate of building is slowing.
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The number of KiwiBuild homes built to date stood at 393 at the end of March, equating to roughly 19 homes built each month since the scheme began in June 2018.
At that rate it would take 436 years to complete the remaining 99,607 houses that remain from the 100,000 target.
After two years, they were supposed to deliver 6,000 homes. They've done just over 5% of that, and now have a delivery date which is further in the future than pakeha have been in this country. As for why, relying on the private sector for construction was part of the problem, but the fundamental issue is that the government simply wasn't willing to fund it, wasn't willing to borrow to invest in New Zealand. Which makes the whole "policy" a fraud from start to finish. Which doesn't bode well for their new promises of increased state house building...
The government has managed to get this right in the past. But they did it by being willing to actually put the public's money where their mouth was and pay for it. Until that happens, nothing will change.