The country’s housing crisis has been decades in the making, and we know that one of the main barriers to the construction of more homes is a lack of basic infrastructure.

Our $3.8 billion Housing Acceleration Fund – designed to speed up the pace and scale of house building – has taken a big step toward tackling this problem. Through this, we’re jumpstarting housing developments by funding the vital infrastructure needed for new housing – like roads and water pipes.

As a first step, we’ve recently delivered funding to unlock over 8,000 new homes in Rotorua, Ōmokoroa, Kaikōura, Ōtaki, Napier, Gisborne and New Plymouth – with more still to come. These homes will ranges from elderly housing, papakāinga, public, affordable and market housing.

Our Government is making the most investment since the 1970s in land, housing and infrastructure to enable new housing. There’s no easy fix for the housing crisis, but this investment will make a real difference.

 

To help more Kiwis into homes, we’ve lifted price caps for First Home Grants, and removed price caps entirely from the First Home Loan. These changes mean that more first home buyers can access Government assistance to get into their own homes.

Another way we’ve backed first home buyers is by extending the bright-line test from five years to 10 years, and by closing a long-standing tax loophole that benefits property speculators. Together, these steps help to discourage speculation, and give first home buyers more options.

 

Through our Affordable Housing Fund, we’re supporting the development of new, affordable homes for Kiwis in areas facing the biggest housing supply and affordability challenges.

We know that rising costs are making it harder for not-for-profit providers to deliver affordable housing. That’s why, through this fund, we’re bridging the gap for organisations so they can get more affordable housing built.

 

We’re also taking steps to modernise the country’s building consent system, which was established over 30 years ago. A better building consent system will support our work to transform the housing market, unlock productivity growth, stimulate urban development where it is needed, and make homes more affordable for all.

 

To make sure more Kiwi families have a warm, dry place to call home, we’re adding more public and transitional housing. Already, we’ve delivered more than 10,000 additional public homes across the country, and we’re building more new public and transitional housing than any Government in decades.

By adding more homes, we’re helping to boost jobs, regional economies and the country’s construction sector.

 

We’ve made renting fairer for Kiwi families. We modernised the outdated Residential Tenancies Act by banning no-cause terminations, limiting rent increases to once a year, and enabling tenants to make changes like quake-proofing. We also got rid of unfair letting fees, which drove up costs for families, and more.

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We believe that secure, healthy and affordable housing is at the heart of the wellbeing of New Zealand families. We’re determined to make this a reality for every family.

We can’t turn things around overnight, but we’re making good progress. You can learn more about our comprehensive housing plan, here.

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