Labour will require retirement villages to repay residents within three months, and back community housing with a $950 million Crown guarantee.
- Retirement villages must repay residents within three months, and this applies to all residents, not just new ones
- Independent disputes resolution service for retirement village residents
- Protection for genuinely vulnerable small, rural and charitable villages, without a loophole for larger operators
- $950 million Crown guarantee for the Community Housing Funding Agency (CHFA), from Labour's first Budget in Government in 2027
- Cheaper finance, more homes: CHFA estimates that for every 11 homes built, the financing efficiency could pay for a twelfth, at no additional cost to the taxpayer
Retirement villages
Seniors deserve certainty and fair treatment when they leave a retirement village.
Labour will require retirement villages to repay residents within three months, so seniors and their families aren't left waiting indefinitely for money that belongs to them. This will apply to all residents, not just new ones.
We'll establish a simple, accessible and independent disputes resolution service so residents have somewhere to turn when things go wrong.
We'll protect genuinely vulnerable small, rural and charitable villages without creating a loophole that lets larger operators avoid their responsibilities.
Crown guarantee for community housing
After three years of neglect, New Zealand's housing shortage is getting worse. One of the fastest and most effective ways to build more homes is to reduce the cost of finance for the organisations already doing the work.
Labour will provide a $950 million Crown guarantee for the Community Housing Funding Agency (CHFA). It is similar to the guarantee provided to banks and would only be called on in the unlikely event of a default. The community housing sector was hoping the current Government would provide this guarantee. They didn't, but Labour will.
By enabling AAA-rated borrowing, interest rates for housing providers are cut, and those savings are invested in building more homes. The maths is straightforward: CHFA estimates that for every 11 homes built, the financing efficiency could pay for a twelfth, at no additional cost to the taxpayer.
What will Labour do for retirement village residents?
Labour will require retirement villages to repay residents within three months, so seniors and their families aren't left waiting indefinitely for money that belongs to them. Labour will also establish a simple, accessible and independent disputes resolution service.
Will the three-month repayment rule apply to existing residents?
Yes. The three-month repayment requirement will apply to all residents, not just new ones.
What is the disputes resolution service for retirement villages?
Labour will establish a simple, accessible and independent disputes resolution service so residents have somewhere to turn when things go wrong.
Will small, rural and charitable retirement villages be treated differently?
Labour will protect genuinely vulnerable small, rural and charitable villages without creating a loophole that lets larger operators avoid their responsibilities.
What is Labour's Crown guarantee for community housing?
Labour will provide a $950 million Crown guarantee for the Community Housing Funding Agency (CHFA), effective from Labour's first Budget in 2027.
How will the Crown guarantee help build more homes?
By enabling AAA-rated borrowing, interest rates for housing providers are cut, and those savings are invested in building more homes.
Why is Labour providing the guarantee?
After three years of neglect, New Zealand's housing shortage is getting worse. One of the fastest and most effective ways to build more homes is to reduce the cost of finance for the organisations already doing the work.
Every New Zealander deserves a safe, secure, affordable place to call home.
Better starts now.
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