Even Housing Minister Phil Twyford has low expectations of his own KiwiBuild programme, National’s Housing spokesperson Judith Collins says.

“In Opposition Mr Twyford claimed that he would build 100,000 homes for just $2 billion.

“That is a ratio of just $20,000 a house. The only way $2 billion can fund 100,000 houses is if money gets recycled back into the fund as houses are sold.

“In Parliament today Mr Twyford said he only expected projects to ‘wash their own face’ – which means the $2 billion would need to completely recycled every three months in order to deliver 100,000 houses in 10 years.

“That means there is just a three month time frame covering investment, building and settlement.

“That is so unrealistic it is clear that KiwiBuild is a KiwiFail. Tell him he’s dreaming.

“Meanwhile, Hobsonville Land Company chief executive Chris Aiken said the cost of the Mt Roskill Redevelopment project alone would be $4 billion, and will eventually break even.

“It is highly likely taxpayers will be asked for more money, or the KiwiBuild target will be missed, most likely both.

“Mr Twyford is dreaming if he thinks he can deliver 100,000 homes for $2 billion when one housing development for 10,000 homes will cost $4 billion.

“That is so far from believable, it’s laughable.”

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