Minister unveils rent-to-own home ownership model initiative
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The government has announced a new housing initiative in Northland, and the trial of an “innovative” rent-to-own scheme for the whānau.
According to Housing and Urban Development Minister Phil Twyford and Māori Development Minister Nanaia Mahuta, the government has invested $8.7 million in housing initiatives to build new four-unit housing development in Whangarei, Kaikohe and Kaitaia.
“The Government is committed to increasing the number of homes available in Northland, and across New Zealand to tackle homelessness and make sure all New Zealanders have access to housing,” says Twyford.
“The new Ōtangarei Papakāinga Limited development will provide transitional homes for up to sixteen Northland families a year, while they receive support to secure a longer-term place to live and rebuild their futures,” Mahuta explained.
Mahuta also said the government will support He Korowai Trust’s project, an innovative trial on affordable rent-to-own home ownership model to assist low-income whānau to move toward owning their own homes.
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