-
Suburban streets are covered with silt forced out of the ground by liquefaction - Source: Getty Images -
Watch Video
-
Related
Live updates of the Government's Christchurch land
report announcement.
Christchurch homeowners can check
www.landcheck.org.nz
to find out the status of their homes.
3:30pm:
Kiwibank has announced a special home loan
package for people eligible for the Government's red zone
assistance.
The bank will provide mortgage lending at a 2% discount on its floating rate (presently 5.65%) for a year from draw down.
The loan package is available for those who accept the offer
from the Government and wish to purchase or build a property
elsewhere.
3:24pm: Residents in the orange and white zones
are expressing frustration at having to wait further on
Twitter.
Tony McCaffrey said: "Orange zone. So that's nice and precarious
then."
Rhianna said: "In the orange zone for the landcheck earthquake
thing which means more waiting GRRRRR".
3:15pm: The cost to the government of the buyout package - $485-635 million - will come from the $5.5 billion earthquake recovery fund set aside in this years budget.
3:09pm: There is no timeframe yet for when properties in the CBD and Port Hills will have clear information about their land.
3:04pm: The government expects to be able
to contact residents in the red zone with an offer of purchase by
the end of August.
3:01pm: Cera says it intends to progressively
reclassify the orange and white zones to either red or green in the
coming weeks. The Landcheck website will be updated to reflect
these reclassifications.
2:59pm: Housing New Zealand tenants should call
the organisation's contact centre 0800 801 601 with any
queries.
2:57pm: Residents in the residential red zone will
be phoned and invited to register to attend a local community
briefing on Friday 24 June, Saturday 25 June, Sunday 26 June or
Monday 27 June 2011. Other community meetings will be held over the
next few weeks.
2:48pm:
See zone maps below:
2:26pm: Anyone who needs temporary
accommodation should contact the Canterbury Earthquake Temporary
Accommodation Service (CETAS) on 0800 67 32 27. Campervans remain
available until mid-July as a contingency measure.
2:23pm: Information for tenants on the Landcheck
website: Your landlord will be receiving information from
Canterbury Earthquake Recovery Authority (CERA) about their
property, including the zone into which the property falls and what
that means for the property. If you do not hear from your landlord,
give them a call.
2:17pm:
Labour's Clayton Cosgrove says residents offered
a government buyout must be given access to free
independent and expert advice to guide their decisions.
He said the choice of 2007 rating values for buyouts "appears to be a fair option", but there will be people who bought properties after 2007 and paid above valuation, or who have taken out large mortgages.
"There will be many more who have made improvements, and others
whose judgment will be affected by personal pressures. And that is
why everyone must have that free independent and expert advice - so
they can make up their minds about what they want to do at relative
leisure," Cosgrove said.
2:14pm: "We've got 5000 homes as a result of today
that have real clarity and I think that's a huge step forward," -
Parker.
2:13pm: Watch
John Key's announcement in full here.
2:07pm: ANZ Chief Executive David Hisco says the
bank has put aside $1 billion to lend at a rate a little below 2%
under the standard variable rate (3.7%). "That will be available to
anybody who receives a payout under the red zone plan". He said it
would represent a saving of a little over $6000 for the standard
home loan of $300,000.
Discount rate is for the first year, and then it goes to standard
rate.
2:06pm: Today marks a huge step forward for us
as a city - Parker. He doesn't believe today's announcement could
have come any sooner.
2:00pm: Christchurch Mayor Bob Parker says hthe
council has done an update on land availibility in the city and
current estimates is that there are around 11,000 sections serviced
or available in the final stages at the moment. Another 6000
sections in the process of being consented.
1:57pm: Brownlee says he confident house prices
will not skyrocket as a result of the government buyout.
1:56pm: Land Check website has crashed -
Sutton. Working on getting it back up and running.
1:55pm: Sutton clarifies Avonside Girls' High
is NOT in the red zone. He said it may appear that way in
maps.
1:52pm: Cera chief executive Roger Sutton outlines communication programme for residents. People who can't access the Land Check website can ring 0800779997. Sutton will be attending meetings in communities over the coming days.
1:49pm: Treasury estimates cost of purchase of red zone houses for government up to $635 million.
1:46pm: Brownlee says it will take some time
for people who take the government buy-out offer to get money in
the bank. He said "probably up to eight weeks".
1:44pm: Land in the red zone may not be able to be
built on for about five years - Key.
1:41pm: Brownlee is asked about home owners
without insurance in red zone. "That's something we are going to
have to do some work on."
He said very few people are without insurance, and: "Our concern is for people who have provided for their future."
1:41pm: "Things will become clearer" for people in grey areas towards the end of September - Brownlee.
1:39pm: The worst affected areas include streets in Bexley, Avonside, Avondale, Burwood/Horseshoe Lake and Dallington. Around 5000 homes are to be abandoned.
1:38pm: Mapping is still underway for the white zone - no final assessment yet.
1:35pm: Homes in green zone "can be repaired
and rebuilt" but some land may be damaged. Green zone residents
should work with their insurers - Key
1:35pm: There are 10,000 homes in the orange zone
which may be "uneconomic to repair". Investigations into these
homes will be announced in the coming weeks. Further assessment is
required.
1:34pm: For people who owned property with
insurance in the residential red zones on 3 September 2010 there
will be two options:
-the Crown makes an offer of purchase for the entire
property at current rating value (less any built property insurance
payments already made), and assumes all the insurance claims other
than contents; or
- the Crown makes an offer of purchase for the land only, and
homeowners can continue to deal with their own insurer about their
homes.
Homeowners in the red zone have nine months to commit to one of the offers.
1:32pm: Christchurch has been mapped into four
zones, red, orange, green and white.
1:30pm:
John Key says the combined cost of the quakes is
$15-20 billion, around 8% of GDP, but the government is fully
committed to rebuilding Christchurch.
1:30pm: Christchurch homeowners can check www.landcheck.org.nz to find out the status of their homes.
