More Important Than Ever For Government Budget To Help Families Into Home Ownership
More important than ever for Government Budget to help families into home ownership, say community housing providers
The KiwiBuy coalition of community housing providers is urging the Government to greatly expand its plans to help New Zealanders into home ownership through rent-to-buy and shared equity products.
They say the upcoming Budget, coming in the midst of the country’s ongoing COVID-19 pandemic response, is an opportunity for the Government to prioritise assistance for families looking for homes.
“The reality is that buying a first home is going to be even further out of reach for many as households lose their incomes and banks become more risk averse,” says KiwiBuy chairperson Major Campbell Roberts.
“At the same time the level of housing need across New Zealand remains wide-ranging and significant. The Government needs to deal with homelessness, insecure and unaffordable rentals and declining home ownership rates.”
Community housing providers, iwi and Māori organisations are already working with the Government on a $400 million progressive home ownership scheme to help several thousand households into their first home.
“Rent-to-buy and shared equity are tested ideas and these providers have a proven track record,” says Campbell Roberts.
“The Government’s progressive home ownership scheme is a great start but now is the time to do more. Supporting more Kiwi families through progressive home ownership and other housing support can go further to address housing need, while providing an effective economic and jobs stimulus.
He says progressive home ownership is a win-win and should be a key part of New Zealand’s recovery.
The KiwiBuy coalition includes the Salvation Army, Habitat for Humanity, Housing Foundation and Community Housing Aotearoa. It has been campaigning for progressive home ownership since 2018. More information is at https://kiwibuy.kiwi.