7. KiwiBuild—Overseas Investment and AffordabilityHon JUDITH COLLINS (National—Papakura) to the Minister of Housing and Urban DevelopmentKiwiBuild—Overseas Investment and Affordability7. Hon JUDITH COLLINS (National—Papakura) to the Minister of Housing and Urban Development: Does he stand by all his statements and actions regarding KiwiBuild?Hon PHIL TWYFORD (Minister of Housing and Urban Development): Yes in particular I stand by my statement that we can't go from zero to 10000 … overnight" but we are making solid progress in creating a pipeline of affordable homes and before the first anniversary of this Government families will be moving into KiwiBuild homes in Judith Collins' electorate.Hon Judith Collins: When he said that large-scale development with KiwiBuild homes could be supported by foreign direct investment exactly what does he expect that support to look like?Hon PHIL TWYFORD: Well it's always been our view that we welcome foreign direct investment in the building of new homes. We stand by our longstanding position that the domestic real-estate market for existing homes should be protected from unrestricted flows of foreign capital. We have always welcomed foreign investment in new builds. That is our policy and we expect that foreign direct investment in new builds will continue including in large-scale developments that are also supported by KiwiBuild.Hon Judith Collins: If overseas investment in KiwiBuild is something he is very happy with as he told The Nation this weekend then why is he not also very happy with overseas investments in private developments?Hon PHIL TWYFORD: The member is quite wrong; we are very happy with offshore investment in new builds. I don't know how I can be any clearer about our position. Our position hasn't changed in the last four years.Hon Judith Collins: If the funding will come from overseas the flat packs will come from overseas and even the workers now look like they're going to be coming from overseas what part of KiwiBuild is Kiwi?Hon PHIL TWYFORD: We are not anticipating bringing flat packs in from overseas. We are not planning on bringing workers in from overseas. The Kiwi element in KiwiBuild is young Kiwi families getting the opportunity to own their own home after a decade of denial.Virginia Andersen: What reports has the Minister seen on the number of Kiwi families who own their own home and how will KiwiBuild increase this?Hon PHIL TWYFORD: An increasing number of first-home buyers are locked out of homeownership. Between 2007 and 2017 homeownership declined for families in nine of the 10 deciles including for families earning between $97000 and $118000 it fell by 13 percent; for $117000 to $142000 of household income it fell by 7 percent; and even for families earning between $142000 and $188000 homeownership fell by over 8 percent. We will build modern starter family homes and allow young families to at last have the opportunity to own their own home.Virginia Andersen: How will KiwiBuild making housing more affordable?Hon PHIL TWYFORD: Through KiwiBuild we're building modest starter homes for families who are locked out of homeownership across New Zealand. By increasing the number of affordable starter homes we will provide young Kiwi families with the first step on the ladder and the security that homeownership brings. By supporting off-site manufacturing we will reduce the cost of building new homes and increase the numbers that we can build.Hon Judith Collins: When he had a meeting on Thursday 31 May with the director of China Development Bank what did he discuss in relation to KiwiBuild?Hon PHIL TWYFORD: I did not meet the director of the China Development Bank on 31 May to the best of my recollection.Hon Judith Collins: I raise a point of order Mr Speaker. I have a written answer from the Minister saying he did on that date. What should I—SPEAKER: Well I think there was enough of a caveat around the Minister's answer to let it be in order.Hon Gerry Brownlee: I raise a point of order Mr Speaker. I think given that the Minister could not recall and we now have a parliamentary question which he must have recalled at the time that he answered it could the question be asked in a different way?SPEAKER: The answer is no because it's been answered. The Minister said that he couldn't recall having the meeting. That is absolutely accurate. He can't recall it. He might have had it but he can't recall it.Hon Judith Collins: I raise a point of order Mr Speaker. Given that the question answered 12265 has not yet been published for other members of Parliament could I seek leave to table this?SPEAKER: Is there any objection to that being tabled? There appears to be none. It will be tabled.Document by leave laid on the Table of the House."