Back in February we got a look at a housing factory in Lower Hutt. It pre-builds homes for under $200K. The homes are built in modules so more or less can be added to create larger or small homes. Imagine securing a four bedroom home for just $195K – a couple in their twenties did so and the home moved onto their Whitby section in Wellington.
This is what Auckland needs and it maybe online within two years.
Mike Greer, founder and chief of house building business Mike Greer Homes, said he and a joint venture partner planned to develop a $16 million high-volume residential panels factory at Pokeno because he thinks that is the best place to supply Auckland, Tauranga and Hamilton.
The factory could eventually make components for 1250 houses a year, Greer said.
You stick timber in one end and out pops a house. We can build two-and-a-half houses a day.
With large blocks of land released for new homes in Auckland this could be the answer to affordability and speed to market. New Zealanders and in particular Aucklanders have a couple of years to fully accept cookie cutter homes as the norm.
It will be interesting to see if the factory homes in Auckland are a similar price to factory homes released elsewhere around the country. It won’t just be owner occupiers signing up for them if they remain a fair price.
Property investors will be hot on the trail too acquiring them as ‘buy and hold’ rentals and depending on where the market is in the cycle maybe for property speculation too.