Progressive Home Ownership Fund

The Progressive Home Ownership (PHO) Fund is a $400 million investment that will help between 1,500 and 4,000 individuals, families and whānau buy their own homes. 

The PHO Fund is creating more opportunities for independent homeownership for people who can’t afford to purchase their own home at current house prices.

The Progressive Home Ownership Fund aims to help:

  • lower to median income households who are unlikely to buy a home without a reasonable level of financial and non-financial support, and 
  • at or above median income households who cannot get a large enough deposit together to buy a home due to high rents and fast-growing house prices, and/or have insufficient income to service a low deposit mortgage at current house prices. 

The PHO Fund aims to address housing affordability for three priority groups:

  • Māori
  • Pacific peoples, and
  • families with children.

Progressive home ownership is already helping 216 families into homeownership

The PHO Fund has supported the following programmes to date:

You can track the progress of the PHO Fund in contracting and placing families in to their homes through our Government Housing Dashboard.

How it works

Approved PHO providers take a 15-year loan from the Government, then partner with individuals, families and whānau to help them access home ownership opportunities through arrangements such as shared ownership, rent to buy, or leasehold.

Through the PHO Fund, individuals, families and whānau will be able to achieve better wellbeing, health, and education outcomes through secure tenure in newly built warm, dry, and safe homes that meet their needs.

Published: June 3, 2021