On 1 July 2026, the Ministry of Housing and Urban Development is now part of the new Ministry for Cities, Environment, Regions and Transport.

Budget 2025 flexible fund opportunity

Last updated: 6 July 2026 This page provides information about the flexible fund.

Stage one applications are now closed

Stage one applications are now closed. Thank you to everyone who applied.

We are assessing submissions to identify preferred delivery partners to progress to stage two application process. We expect to complete this process in July and with applicants notified of the outcome in August in 2026.

About the flexible fund opportunity 

In November 2025, we released a housing investment plan setting out where the flexible fund would focus its Budget 2025 investment.  

Housing investment plan 2025

On 5 February 2026, we released an information document with details about the application process. A two-stage application process is now underway to identify delivery partners and select projects to deliver at least 675–770 social homes and affordable rentals from July 2027 to mid- to late-2029.

Budget 2025 flexible fund opportunity application process – information document (PDF, 765 KB)

What can be funded and who is eligible to apply 

Below is an overview of each of the housing solutions available to be funded through the flexible fund opportunity. 

Social housing

Social housing supports people that are most in need of housing, who cannot access or sustain a tenancy in the private rental market for a range of reasons. 

To apply to deliver social housing you must be a registered community housing provider. They provide safe and secure housing by developing, purchasing or leasing homes, placing eligible households into the homes and providing ongoing tenancy management.

Please see our social housing page for more information.

Social housing – Te Tūāpapa Kura Kāinga – Ministry of Housing and Urban Development

Affordable rentals

Affordable rentals are for households unable to access appropriate private rentals due to barriers or household circumstances beyond affordability and are unlikely to be able to access social housing. 

Community housing providers, iwi Māori providers and other organisations who provide housing can apply. Successful providers will provide safe and secure housing by developing, purchasing or leasing homes, placing eligible households into the homes and providing ongoing tenancy management.

Please see our affordable rentals page for more information.

Affordable rentals – Te Tūāpapa Kura Kāinga – Ministry of Housing and Urban Development

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