Progressive Home Ownership Fund

The Progressive Home Ownership (PHO) Fund is a $400 million investment to help individuals, families and whānau step into home ownership. 

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 families into their first homes

We have supported the following providers:

Auckland

Habitat for Humanity

Habitat for Humanity has run a progressive home ownership scheme in New Zealand for more than 25 years using a rent-to-buy model. In that time, it has helped more than 500  families into home ownership.

Funding to build 6 homes in Mangere, 9 homes in Takanini and 4 homes in Pukekohe.

New Zealand Housing Foundation


NZ Housing Foundation is a not-for-profit, charitable trust that helps lower income renting households to become homeowners, through shared ownership and rent to own programmes.

 

Funding to build 23 homes in Flat Bush, 8 homes in Mangere, 5 homes in Panmure and 42 homes in East Tamiki.

Bay of Plenty

Manawa PHO Ltd

Manawa PHO Limited is the housing arm of Ngā Pōtiki ā Tamapahore Trust. They have partnered with Westpac bank to deliver the Ngā Pōtiki Shared Equity Home Ownership programme.

Funding for 30 homes in Pāpāmoa.

Habitat for Humanity


Habitat for Humanity has run a progressive home ownership scheme in New Zealand for more than 25 years using a rent-to-buy model. In that time, it has helped more than 500  families into home ownership.

 

 

Funding to build 3 homes in Tauranga, 3 homes in Papamoa and 1 home in Rotorua.

Doing Good Foundation 

Doing Good Foundation is a not-for-profit, charitable organisation that partners with families to assist them into home ownership through a rent-to-own model.  

Funding to build 2 homes in Tauranga 

Waikato

Habitat for Humanity

Habitat for Humanity has run a progressive home ownership scheme in New Zealand for more than 25 years using a rent-to-buy model. In that time, it has helped more than 500  families into home ownership.

 

Funding to build 22 homes in Hamilton

Wellington

 

 

Habitat for Humanity

Habitat for Humanity has run a progressive home ownership scheme in New Zealand for more than 25 years using a rent-to-buy model. In that time, it has helped more than 500  families into home ownership.

Funding to build 5 homes in  Upper Hutt.

Nelson

Habitat for Humanity

Habitat for Humanity has run a progressive home ownership scheme in New Zealand for more than 25 years using a rent-to-buy model. In that time, it has helped more than 500  families into home ownership.

 

Funding to build 25 homes in the Nelson/Tasman region.

Christchurch 

Habitat for Humanity 

Habitat for Humanity has run a progressive home ownership scheme in New Zealand for more than 25 years using a rent-to-buy model. In that time, it has helped more than 500  families into home ownership.  Funding to build 2 homes in Christchurch. 

Otago

Habitat for Humanity

Habitat for Humanity has run a progressive home ownership scheme in New Zealand for more than 25 years using a rent-to-buy model. In that time, it has helped more than 500  families into home ownership.

 

Funding to build 3 homes in Dunedin.

Queenstown Lakes Community Housing Trust

Queenstown Lakes Community Housing Trust (QLCHT) is an independent, not-for-profit, community-owned organisation. It has a range of housing programmes, including a well-established assisted home ownership programme, Secure Home, which is based on a leasehold model.

 

Funding to build 26 Apartments in Frankton and 10 stand-alone homes in the Lake Hayes Estate.


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

The 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: February 2, 2022

Top
Top