Budget 2025 flexible fund opportunity

Last updated: 27 February 2026 This page provides information about the flexible fund. Stage one applications are open now. The final date to apply is 24 April 2026.

Once applications close, we will assess submissions to identify preferred delivery partners to deliver a programme of housing that will provide the right homes in the right places for the people in highest housing need.

Making an application

Te Tūāpapa Kura Kāinga – Ministry of Housing and Urban Development invites applications from providers with a track record in delivering housing and providing tenancy management services. We are seeking proposals for housing investment that:

align with our purchasing intentions
will achieve positive outcomes for those who will be housed as well as the wider community and local economy
are costed competitively and can be delivered and tenanted between mid-2027 and mid to late 2029.

You can apply by emailing completed application forms to investment@hud.govt.nz.

The templates and documents can be found at the bottom of this page.

Applicants are strongly encouraged to read the housing investment plan and the flexible fund information document before applying for funding through the flexible fund. These documents have important information you need to know before applying.

Housing investment plan 2025

Information document (PDF, 765 KB)

Learn more about the flexible fund opportunity

Register for an upcoming information session

Learn more about the flexible fund opportunity by registering for one of our upcoming information sessions. There are two different information sessions, we encourage you to attend both.

Session

Covering

Time

Link to register

Flexible fund opportunity applications

Covering the application process, our assessment framework and decision timeframes

1:00pm, Wednesday 11 March

1:00pm, Wednesday 25 March

Flexible fund opportunity, funding approach

Covering our financial model

1:00pm, Thursday 12 March

1:00pm, Thursday 26 March

Questions and answers

Questions can be sent to our investment team at investment@hud.govt.nz. Each Friday from 6 March 2026, consolidated responses to questions will be updated on this webpage.

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

Application templates

The stage one application pack includes everything you need to make an application. You must submit the application form, cost response form and financial model.