The Housing Acceleration Fund
The $3.8 billion Housing Acceleration Fund (HAF) aims to speed up the pace and scale of home building.
The most significant component of the HAF is an infrastructure fund to unlock a mix of private-sector- and government-led developments in locations facing the biggest housing supply and affordability challenges.
The HAF also includes additional funding for the Land for Housing Programme to accelerate the development of vacant or underutilised Crown-owned land, operate in more regions, and deliver a broader range of affordable housing options for rental and homeownership.
The Housing Acceleration Fund is complemented by:
- the Kāinga Ora Land Programme, through which Kainga Ora will be supported to borrow $2 billion extra to scale up land acquisition to increase the pace, scale and mix of housing developments (including more affordable housing)
- the $350 million that has already been committed to the Residential Development Response Fund, which will shift from supporting construction activity and jobs through COVID-19 to now focus on supporting the delivery of more affordable housing options for rent and homeownership.
These funds and programmes form part of the measures announced in the Government Housing Package announced in March 2021 to support first home buyers and encourage investment in new housing supply.
The Infrastructure Acceleration Fund
The Infrastructure Acceleration Fund (IAF) is a fund for infrastructure investment to support the new housing supply throughout Aotearoa. It aims to increase the pace and scale of housing delivery by helping to fund the critical infrastructure needed for developments.
More information can be found on the Infrastructure Acceleration Fund page.
The Māori Infrastructure Fund
In addition to accessing the Infrastructure Acceleration Fund, iwi and Māori will have access to a $350 million Māori Infrastructure Fund ringfenced from the Housing Acceleration Fund.
The Māori Infrastructure Fund will unlock a wider range of Māori-led housing projects, such as papakāinga developments, developments on whenua Māori or rural developments with onsite infrastructure needs.
Details of how Māori and iwi developers can access the $350 million Māori Infrastructure Fund will be announced in August 2021.
This funding complements the $380 million allocations towards Māori housing through Whai Kāinga Whai Oranga.
More information can be found on the Whai Kāinga Whai Oranga page.
Published: June 22, 2021