The Affordable Housing Fund will support the development of new, affordable homes for low-to-moderate income people and whānau, in locations facing the biggest housing supply and affordability challenges. 
The $350 million investment will help grow the affordable housing sector, which is critical to addressing the needs of New Zealanders who struggle to meet the cost of a market rental but can’t access public housing. 

Funding pathways 

The Affordable Housing fund has two pathways, the Affordable Rental Pathway, and the Build-ready Development Pathway. 

Affordable Rental Pathway  

The Affordable Rental Pathway offers $50 million of grant funding to not-for-profit organisations to deliver newly built affordable rental housing.   

Funding is targeted in locations with the greatest need for an increased supply of affordable rental for those on lower incomes 

Not-for-profits include organisations such as community housing providers, iwi and Māori housing providers, councils, and charitable trusts.  

See more details about the Affordable Rental Pathway.

Build-ready Development Pathway 

The Affordable Housing Fund’s Build-ready Development Pathway helps to secure affordable housing in build-ready developments that might not go ahead without government support.  

For eligible build-ready developments, where construction hasn’t started, we can l work with developers, by either:  

  • purchasing land under a government land acquisition programme; or 
  • prepurchasing or underwriting homes ‘off the plans’ to reduce risk for developers and their financiers, where construction hasn’t yet started.  

See more information about the Build-ready Development Pathway.