In the Waikato Times article, I’ve shared my concerns about the government’s underwrite policy for property developments. While it may seem beneficial on the surface, I believe the government should focus more on addressing the root issues hindering development.

One of the major roadblocks my projects face is infrastructure, especially the lack of adequate sewer and water systems, which falls under Council responsibility. The government needs to get a handle on councils, streamline consent processes, and ensure we can build efficiently.

Another big issue is the growing complexity and red tape involved in council procedures, which has led to longer delays and higher costs for developments. The involvement of multiple consultants, who often profit from these delays, creates a system that financially rewards inefficiency. This is a significant problem in New Zealand’s current property landscape.

Finally, I’m concerned about the potential risks of funding developers who haven’t secured finance on their own or whose projects have been deemed too risky by professional lenders. The market needs affordable homes, not projects that might not align with what people actually need. In my view, the government should stick to improving infrastructure and services like health and education, and leave development to professionals who understand the market.

As a developer, I could benefit from this underwrite policy, but it just doesn’t seem right to me. It’s not the solution New Zealand needs.

John Kenel
Founder Assured Property & The Property Development Club

https://www.waikatotimes.co.nz/nz-news/350437259/housing-scheme-hopes-waikato-building-slows