Progressive home ownership fund
Last updated: 2 November 2026 As house prices have increased, many individuals and whānau who would have once bought a home have been priced out of home ownership. Progressive home ownership is one way to help them into their own homes. This fund closed on 30 June 2024. We are no longer accepting new applications.
How progressive home ownership works
Progressive home ownership (PHO) can help people into their own homes through arrangements like rent-to-buy, shared ownership or leasehold schemes.
Rent-to-buy
An eligible household initially rents their home from an approved PHO provider. Within a period of up to 15 years (in practice 5 to 10 years), the household puts aside savings and buys the home from the provider.
Shared equity
An eligible household becomes a part-owner in a home, along with an approved PHO provider. Within a period of up to 15 years (in practice 5 to 10 years), the household buys out the PHO provider and becomes the sole owner of the property.
Leasehold
The eligible household buys a registered leasehold interest in a home from a PHO provider with the right to occupy the property over the long-term, such as 100 years. The freehold interest in the property is retained by the provider and the leaseholder pays a modest ground rent, as well as servicing any mortgage commitment.
Freehold home ownership is not achieved using a leasehold model, but the leaseholder has secure tenure in their own home and the opportunity to build savings over the term of the lease.
About the progressive home ownership fund
The $400 million progressive home ownership fund offered approved PHO providers funding via an interest free loan. The PHO providers then use that money to fund homes that are then used to partner with individuals, families and whānau in a rent-to-buy, shared equity or leasehold arrangement.
Who the PHO fund helps
The PHO fund can help:
- lower-to-median income households who are unlikely to be able to buy a home without a reasonable level of financial and non-financial support
- first-home buyers who can service a mortgage but don’t have a sufficient deposit
- households that have at or above median incomes but don’t earn enough to service a low-deposit home loan at current house prices.
It aims to increase home ownership for three priority groups:
- Māori
- Pacific peoples and
- families with children.
Eligibility
Applicants must:
- be legally able to buy a home in New Zealand (or be married to, or in a civil union or de facto partnership with someone who is legally able to buy a home in New Zealand)
- have a household income before tax of no more than $150,000, except for multi-generational households (a household that normally lives together and is made up of either three or more generations, for example, grandchildren, parents and grandparents living together) or two generations with multiple related family units (or cousins living together with their families) or larger whānau of 6 or more who normally live together
- be a first homebuyer or a second chancer (someone who has owned a home before but is back in the same financial situation as a first-time buyer, for example, due to a divorce).
Applicants must also commit to living in the house as their main place of residence for at least three years, such as, they’re not buying it as an investment property.
As well as this general eligibility criteria, PHO providers can also apply their own criteria.
How to buy a home through the progressive home ownership fund
Individuals and whānau can buy a home through a programme managed by an approved PHO provider.
First home partner with Kāinga Ora – Homes and Communities
Please note due to high demand, the first home partner fund is now fully subscribed and is currently not accepting new applications.
Read more about first home partner(external link)(external link)
- Total number of homes contracted: 1,179
- Number of homes settled: 1,176 (as at 30 September 2026)
Te Aho Tāhuhu webinar series (December 2021)
A series of 10 webinars was produced in conjunction with Te Matapihi to discuss various aspects of the Progressive Home Ownership Scheme.
Watch the webinars on the Te Matapihi website(external link)
Progressive home ownership is already helping families into their first homes
We've supported the following providers (as at 31 September 2026):
Bridge Housing Charitable Trust
- PHO scheme: Leasehold
- Total number of homes contracted: 35
- Number of homes settled: 34
- Location: Cambridge, Waipā, Te Awamutu
Doing Good Foundation Limited
- PHO scheme: Rent to Buy
- Total number of homes contracted: 13
- Number of homes settled: 9
- Location: Tauranga
Habitat for Humanity (Christchurch) Limited
- PHO scheme: Rent to Buy
- Total number of homes contracted: 2
- Number of homes settled: 2
- Location: Christchurch
Habitat for Humanity (Northern/Southern Limited)
- PHO scheme: Rent to Buy
- Total number of homes contracted: 9
- Number of homes settled: 0
- Location: Dunedin
Habitat for Humanity (Nelson) Limited
- PHO scheme: Rent to Buy
- Total number of homes contracted: 38
- Number of homes settled: 28
- Location: Nelson
Habitat for Humanity Central Region Limited
- PHO scheme: Rent to Buy
- Total number of homes contracted: 46
- Number of homes settled: 46
- Location: Hamilton, Upper Hutt, Tauranga and Rotorua
Habitat for Humanity New Zealand
- PHO scheme: Rent to Buy
- Total number of homes contracted: 10
- Number of homes settled: 6
- Location: Across New Zealand
Habitat for Humanity Northern Region Limited
- PHO scheme: Rent to Buy
- Total number of homes contracted: 36
- Number of homes settled: 36
- Location: Pukekohe, Mangere East, Whangārei, Tikipunga
Homes For People Trust
- PHO scheme: Rent to Buy and Shared Ownership
- Total number of homes contracted: 14
- Number of homes settled: 14
- Location: Palmerston North
Ka Uruora
- PHO scheme: Rent to Buy and Shared Ownership
- Total number of homes contracted: 93
- Number of homes settled: 16
- Location: Waikato, Thames, Tokoroa, Napier, Napier South, Hastings, Bridge Pā, Blenheim, Taranaki, Marfell, Okāto, Westown, New Plymouth
Manawa Community Housing Trust
- PHO scheme: Leasehold
- Total number of homes contracted: 18
- Number of homes settled: 18
- Location: Papamoa, Tauranga, Bay of Plenty
New Zealand Housing Foundation (HF3 PHO Ltd)
- PHO scheme: Shared Ownership and Rent to Buy
- Total number of homes contracted: 223
- Number of homes settled: 126
- Location: Flat Bush, Mangere, Panmure, Tamaki, Papatoetoe, Ōmokoroa
Ngāti Whātua Orākei Whai Rawa
- PHO scheme: Shared Ownership (Leasehold)
- Total number of homes contracted: 15
- Number of homes settled: 15
- Location: Auckland
Ōtautahi Community Housing Trust
- PHO scheme: Leasehold
- Total number of homes contracted: 17
- Number of homes settled: 9
- Location: Christchurch
Owhata Kōhanga Rākau LP
- PHO scheme: Leasehold and Freehold
- Total number of homes contracted: 37
- Number of homes settled: 4
- Location: Rotorua, Te Puke, Papamoa
Penina Trust
- PHO scheme: Rent to Buy
- Total number of homes contracted: 9
- Number of homes settled: 9
- Location: Manurewa, Auckland Central
Queenstown Lakes Community Housing Trust
- PHO scheme: Leasehold and Rent to Buy
- Total number of homes contracted: 116
- Number of homes settled: 116
- Location: Queenstown
Te Ranga Mārō - Te Tihi o Ruahine
- PHO scheme: Rent to Buy
- Total number of homes contracted: 14
- Number of homes settled: 14
- Location: Palmerston North
Te Runanga o Kirikiriroa
- PHO scheme: Rent to Buy
- Total number of homes contracted: 27
- Number of homes settled: 27
- Location: Hamilton
Te Rūnanga o Ngāi Tahu
- PHO scheme: Shared Ownership
- Total number of homes contracted: 10
- Number of homes settled: 10
- Location: Christchurch
Te Taiwhenua O Heretaunga
- PHO scheme: Shared Ownership
- Total number of homes contracted: 11
- Number of homes settled: 2
- Location: Waingākau
Te Tumu Kāinga
- PHO scheme: Shared Ownership
- Total number of homes contracted: 15
- Number of homes settled: 6
- Location: Mangere
Whaakatu Whānaunga Trust
- PHO scheme: Rent to Own
- Total number of homes contracted: 8
- Number of homes settled: 0
- Location: Ōpōtiki
You can track the progress of the PHO Fund in contracting and placing families into their homes through our Housing Dashboard.
