KiwiBuild – the government’s solutionThe government is attempting to address the housing crisis through a number of measures including their KiwiBuild programme. It is a good start. But KiwiBuild as it currently stands does not go far enough. KiwiBuild houses are too expensive. Families with household income under $90,000 living in communities like Auckland will never be able to own a KiwiBuild home. Families with children will struggle to own a KiwiBuild home.
Our Solution – KiwiBuySolving New Zealand’s housing crisis is not possible through construction alone. Families need financial support to turn around the decades of neglect and declining home ownership rates. More Kiwis could be owning their own home in the next 5 years if the Government made a commitment to scale up the successful work that Housing Foundation, Habitat and other community providers are doing to assist hundreds of Kiwi whānau into their own homes. We’re inviting you to join us in our KiwiBuy campaign. KiwiBuy combines proven and innovative pathways to home ownership, including Shared Ownership and Progressive Home Ownership. We know that these initatives work.
Shared Ownership helps households into home ownership by allowing them to purchase part of a new home, while the government or another party holds a share of the owner-occupier’s home. By doing so the remaining mortgage costs are more affordable to the household.
Progressive Home Ownership is a partnership-based programme which assists people in housing need move towards independent home ownership. The first step for many households who cannot raise a deposit is to enter an affordable rental programme with secure tenure for five or more years whilst they get mortgage ready. These products succeed when there is (1) a selection criteria, (2) support services, (3) stable tenure, (4) subsidy, and (5) a well-priced home.
What can you do?KiwiBuy is an opportunity to address and reduce the poverty many families in Aotearoa face – permanently. Home ownership is a powerful tool for wealth accumulation through providing a broad range of benefits includsing stability and having a stake in the local community. We’re asking you today to join us. You can help make KiwiBuy a reality. Look out for KiwiBuy on Facebook this week, and share the campaign with your friends. In the next few weeks, look out for more ways to support a call for better home ownership solutions, including
- a dedicated website
- a housing calculator
- on Facebook
- and other ideas