5. KiwiBuild—Housing Supply and PricingHon JUDITH COLLINS (National—Papakura) to the Minister of Housing and Urban DevelopmentKiwiBuild—Housing Supply and Pricing5. Hon JUDITH COLLINS (National—Papakura) to the Minister of Housing and Urban Development: Does he stand by all his reported statements and promises?Hon PHIL TWYFORD (Minister of Housing and Urban Development): Yes; except the ones I've corrected.Hon Judith Collins: Ha ha! Sorry Mr Speaker. When he promised that the Government is going to build 100000 KiwiBuild homes did he mean that the Government is going to subsidise private investors to build the homes that the Government has promised but cannot itself build?Hon PHIL TWYFORD: We've always talked about building 100000 houses and we've always talked about a number of ways that we will deliver KiwiBuild. One of the ways we have been saying for the last six years that we will deliver KiwiBuild houses is by working directly with the private sector—something that frankly I'm surprised that member of the House is so opposed to.Hon Judith Collins: Which of these promises to build KiwiBuild houses is now correct: 1000 in the first year of Government 1000 by 30 June 2019 16000 in 3 years or 8000 before the next election?Hon PHIL TWYFORD: Our plan is to deliver 1000 in the first year of the KiwiBuild programme 5000 in the second year and 10000 in the third year and we will have built 100000 affordable homes for young Kiwi families by mid-2028.Hon Judith Collins: What percentage of the KiwiBuild homes that he says he's building will be priced at the reported cap of $650000?Hon PHIL TWYFORD: The cap is precisely that: it's a cap. I'm happy to have the opportunity to correct a number of misinformed comments in the media in recent days who have interpreted the $650000 Auckland and Queenstown price-cap as a target. It's not a target. And in fact in the member's own electorate at McLennan we're building three-bedroom homes that will sell for $579000.Hon Judith Collins: I raise a point of order Mr Speaker. I asked about the percentage. We got nowhere near that—not even a guess.SPEAKER: The question was addressed.Marja Lubeck: How will KiwiBuild build new affordable homes for Kiwi families?Hon PHIL TWYFORD: I thank the member for that excellent question. Many residential developments across New Zealand have stalled because the developers are struggling to get finance on acceptable terms. We know that KiwiBuild rescuing these stalled developments will add new homes to the market. Forecasting investment in residential housing is inherently uncertain and depends on a number of assumptions but the Ministry of Business Innovation and Employment suggests that KiwiBuild could generate up to $11 billion in additional investment in residential housing over the next four years.Hon Judith Collins: When he told the media yesterday We've been flat out trying to build more houses" has he built any in the 200 days that he's been in Government?Hon PHIL TWYFORD: Well we've been very busy for the last six months laying the foundations for the KiwiBuild programme. And I would note that the first Labour Government took two years to complete the first State house. I'm confident that the first KiwiBuild homes will be completed by September this year less than a year after we were elected. I'm surprised frankly that the members across the House seem to be such experts in the building of affordable houses given that they built none in nine years.Marja Lubeck: What reports has the Minister seen on KiwiBuild's price points?Hon PHIL TWYFORD: I've seen some bizarre comments about KiwiBuild's price points. In particular a number of media commentators have said that these are the prices of KiwiBuild homes rather than the price caps. KiwiBuild homes could range from $300000 to $500000 or $300000 to $650000 in Auckland and Queenstown. The first KiwiBuild homes at McLennan will be built for $579000 for a three-bedroom home—that's $71000 less than the maximum."