Wellington Scoop

44 Kiwibuild apartments attract record 200 applicants in Wellington

News from The Wellington Company
Over 200 potential KiwiBuild buyers entered the ballot for 44 KiwiBuild apartments in Wellington’s Monark development, making it the most popular KiwiBuild ballot to date. KiwiBuild has notified ballot winners. The Wellington Company and KiwiBuild are now working with them to finalise their purchases.

The apartment development by The Wellington Company will deliver high quality, affordable homes in the central Wellington suburb of Mt Cook, bringing much-needed housing stock to the capital.

Managing Director of The Wellington Company Ian Cassels says the heightened interest is a testament to the city itself. “Wellington is an extremely attractive place for people to build their lives, and we’re seeing this reflected across the housing market.” said Cassels.

“For the new generation of first-home buyers coming through, Kiwibuild is helping to make the start of their home-ownership journey in Wellington more accessible.”

Monark Development Director, Earl Hope-Pearson, attributes the popularity of the project to a number of factors. “It’s the unique combination of a fantastic city-fringe location, the heavily discounted price, Wellington’s significant housing demand and delivery by a trusted developer.”

Should any ballot winners choose not to move forward with their purchase, KiwiBuild will redraw the ballot to offer other entrants an opportunity to buy those homes.

The Monark development has a mix of KiwiBuild and open-market apartments. A limited number of open-market apartments in the development remain available to purchase.