Arrowtown economist Benje Patterson has produced an independent economic impact study on the "Secure Home" programme for its provider, the Queenstown Lakes Community Housing Trust.
Mr Patterson found for every dollar invested in secure homes, the social value to Queenstown-Lakes was $3.90 — without the trust discounting the land that would drop to $2.60.
He estimated the programme delivered $8.3 million in average annual social benefits across the programme’s 93 households.
Over a 30-year mortgage horizon, total benefits equated to a present value of $186.4m, or $2m in lifetime social benefit per household.
About 69% of total benefits were economic while 31% are broader social benefits, he said.
Economic benefits included increased budgets for households to meet living costs due to having cheaper housing — and reduced costs from not having to move from one rental to another.
The social benefits included better mental health from reduced housing vulnerability, better physical health from living in warm, dry homes and residents’ greater community involvement and volunteering.
Christina Brady, a teacher and learning assistant at Shotover Primary School, and HVAC engineer Ben Marshall, who live in one of the homes with their 6-year-old, Finn, said moving into a secure home at Arrowtown’s Tewa Banks — the trust’s largest development so far — had been a life-changer.
Over the couple’s 13 years in Queenstown they had lived in nine different houses, and Finn was now in his fourth.
"Moving is exhausting enough, but the worry of not knowing where you’ll be living in a year’s time is draining," they said.
"We both work hard but buying a house here, outside of the housing trust, would have been completely out of reach for us.
"It wouldn’t have been too long before we would have had to leave the area we love, to try and create some stability for our family."
They said they finally felt in control of their future.
"It’s taken away the worry of rent increases and the possibility of the house being sold or the lease not being renewed.
"Instead, we now have a warm, affordable home where we can settle in and truly feel part of the community."
Mr Patterson’s analysis noted as at last December, there were 93 secure homes housing 250 residents, including 156 of working age, 91 children and three retirees.
Owners paid for the home based on its construction costs, but the land — the most expensive part — was retained by the trust, which charged ground rentals.
Land costs were low as much of it was gifted by developers.
