Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Door to home ownership has been opened

Today’s announcement by Government of its intention to work with the community housing sector and others in the development of a $400m progressive home ownership package is warmly welcomed by the KiwiBuy coalition of community housing providers, including the Salvation Army, Habitat for Humanity, Housing Foundation and Community Housing Aotearoa.

Through Government working together with the community housing sector and others experienced in successfully delivering rent to buy, shared ownership and similar products, more Kiwi households will have the opportunity to own their home, says coalition chairperson Major Campbell Roberts.

“This announcement is excellent news and creates the opportunity to make a difference for families in housing stress.”

That’s echoed by Claire Szab, CEO of Habitat for Humanity New Zealand, which has supported more than 500 New Zealand families using a rent to buy approach.

“This is an idea whose time has come,” she says. “Many families are locked out of home ownership by student debt, the difficulty of saving a deposit, the costs of raising a family and the multitude of other barriers. The Government’s plans for a progressive home ownership programme unlocks the barriers to home ownership many families face.”

The Housing Foundation’s Dominic Foote also welcomes the Government’s progressive home ownership announcement.

“Every day we see the difference our affordable rent to buy and shared ownership products make to people’s lives,” he says. “We have the energy to work with Government in developing a strong national programme that will help many more hard-working renting households become homeowners.”

The programmes home ownership programmes of shared ownership and rent to buy are currently giving families opportunities to move into new housing.

“Expanding this programme in the way the Government is suggesting is just the kick start housing low-income people needs.”

“Progressive home ownership solutions will also provide support in budgeting, home ownership education and housing advice from the progressive home ownership provider. The aim is to make the transition from rental to ownership as smooth as possible,” says Campbell Roberts.

Members of the KiwiBuy coalition and other community housing providers welcome the opportunity to make available to the Government the expertise and experience gained with shared ownership products over the past 20 years, and determined to help the Government deliver an effective, cost-efficient and transformational programme of progressive home ownership.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

SMC Expert Reaction: Record Dry Spells And Effects On Forests

With no rain forecast before Sunday, Auckland is about to break a record for the city's longest dry spell. Niwa says Auckland is likely to hit 40 consecutive days without rain this weekend . The upper North Island is seeing severe meterological ... More>>

ALSO:

Reserve Bank: Official Cash Rate Remains At 1.0 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment is at or slightly above its maximum sustainable level while consumer price inflation is close to the 2 percent mid-point of our target range. ... More>>

ALSO:

Research: Climate Change Throws Tree Seeding Out Of Sync – New Study

Climate change is negatively affecting tree reproduction by throwing seed production systems out of synchronisation, according to a new international study co-authored by a University of Canterbury scientist. Many tree species worldwide produce large ... More>>

ALSO:


Science Media Centre: Novel Coronavirus Detected In China – Expert Reaction

The virus was detected after more than 40 people were hospitalised with pneumonia in Wuhan City, China and the outbreak traced to a large animal and seafood market. The Centers for Disease Control and Prevention reports that person-to-person transmission ... More>>

ALSO:

Science Media Centre: Flooding could release toxic gas – Expert Reaction

A chemical substance known as ouvea premix stored at an old paper mill in Mataura could release toxic ammonia gas if it comes in contact with water.More>>

ALSO: