PHOTO: It will prioritise people in places with severe housing affordability, households unable to otherwise buy
A new Government scheme has been launched to help people who struggle to raise enough money for a deposit into home ownership.
The $400 million scheme announced last September during changes to the failed KiwiBuild scheme includes options for shared equity or ownership, rent-to-buy and leasehold homes.
Housing Minister Megan Woods said the first stage of the progressive home ownership scheme would help 100 low-to-median income families in Auckland and Queenstown “who are struggling to pull together a deposit, or pay a mortgage, into home ownership”.
“The fund will focus on areas where housing affordability is most severe, with a strong preference for new houses to build supply.”
It will prioritise people in places with severe housing affordability, households unable to otherwise buy, and Māori, Pacific people, and families with children.
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