Million-dollar asking price for compact homes out of reach for many families

Lawrence Gullery14:38, Jul 07 2021
SUPPLIED
Units 5 and 6 of the Meridian Asset Management compact housing development. The three-bedroom units are on the market with an asking price of $1,005,000 each.
A compact housing project touted as a tool to help bring housing prices down will itself be unaffordable to many families desperate to find a home in a fast-growing Waikato town.
Meridian Asset Management was granted resource consent by the Waipā District Council to build 10 housing units on one property at 47 Coleridge St, Leamington, in Cambridge.
Consultant Mark Chrisp,​ in his planning evidence to the council’s hearings committee presented on behalf of Meridian in mid-May, said the development met new policy expectations to increase housing density rather than use valuable agricultural land to build new homes.

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