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Ten more Queenstown Lakes families will be helped into their own homes through the Government’s Progressive Home Ownership (PHO) fund.
A non-profit, community-owned organisation, which is a recipient of the fund, has already helped 25 households into Toru Apartments at Frankton.
Additionally, Habitat for Humanity, which has operated a progressive home ownership scheme in New Zealand for more than 25 years through its rent-to-buy model, had also received loan funding to help it build a total of 40 homes in Dunedin, Nelson-Tasman, Upper Hutt, Tauranga, Hamilton and Auckland.
The $400million PHO fund will help between 1500 and 4000 individuals, families and whanau to buy their own homes.
Housing Minister Megan Woods said its priority was to support households unable to otherwise buy, those with dependent children, and Maori and Pacific people.
Ms Woods also announced yesterday Kainga Ora had launched a new shared-ownership product, First Home Partner, through which it would take an equity share in a property to help first-home buyers who can service a mortgage, but need help raising their deposit.
Further, the Ministry of Housing and Urban Development had opened a second round of funding through the PHO fund’s ‘‘Provider’’ pathway, working with iwi and Maori organisations through Te Au Taketake to establish their own progressive home ownership products.