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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. 

Progressive home ownership is already helping 166 families into homeownership

We have taken a staged approach to the PHO Fund. We started with initial funding of $39 million to support New Zealanders buy their own homes.

In the first phase, we worked with well-established housing providers who already provide progressive home ownership to their communities to support more individuals, families and whānau.

The PHO Fund has supported the following programmes to date:

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.

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.

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

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

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

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