Propertyscouts Invercargill

Hundreds of Invercargill State houses to be sold - 1st Sep 2015

Tauranga and Invercargill are first on the chopping block to have state houses sold to independent provides, in the first phase of the Government's plans.

This is a secton of the Stuff's article for the full story:  http://www.stuff.co.nz/national/politics/71546087/next-stage-in-state-house-selloff-to-get-underway-in-tauranga-invercargill

"Tauranga and Invercargill were chosen for the first pilot because they were areas where social housing demand is mostly stable, but if other areas could be rolled out before the programme in those two centres is wrapped up mid-2016. Most of the houses - 1140 - are in Tauranga with the rest, 370, in Invercargill.

They will get a top up payment from the Government to make up any shortfall between the market value of rent on the property and whatever the tenant pays, which in most cases will an income related rent set at 25 per cent of what they earn."


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