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May, 2021

Fifty households will have moved in to their new homes in Frankton by
the end of this weekend, in a scheme which means they are paying not
much more than $200,000.
It comes after the Queenstown Lakes Housing Trust settled on the
recently completed Toru Apartments.
Trust executive officer Julie Scott said 19 rental apartments were
settled on Wednesday and the remaining 31  eight market sales and 23
in the trusts Secure Home programme  settled yesterday.
Secure Home is a New Zealand first, in which people buy the properties
through a 100-year lease arrangement and the trust retains ownership
of the land in perpetuity.
Moving in to her one-bedroom Secure Home apartment today is Susan
Sheridan, who until now has been a renter, moving about five times in
the past six years.
She had been on the trusts waiting list since October, 2019.
Ms Sheridan said it was "surreal" to know she was finally on the property
ladder  something which would not have been possible without the
housing trust and her bank.
"Theyve helped me realise a dream of owning my own home.
"Its just made everything possible."
The former aviation security officer, who starts a new job as a personal
assistant at Harcourts Queenstown on Monday, said it would also be the
first time she was able to have her "own space", without flatmates.
The cherry on top was that the cost of owning the apartment was about
$236,000, with her 20% deposit, which was far cheaper than renting in
the resort.
Ms Scott said it felt "really good" to hand over the keys to the new
owners after three years of working on the project.
Last year, the trust received an interest-free $6.35million loan from the
Government to use for 25 secure homes in New Ground Capitals

Source: Otago Daily Times


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