Thursday, October 14, 2010

Helping people into homes

The National-led Government has launched a new programme making it easier for first-time buyers and people on lower incomes to build or purchase their own homes.

Gateway Housing Assistance helps buyers build or buy a property but defer payment on the land for up to ten years. This allows people on lower incomes to concentrate on designing and building, or buying, their homes before they take on the additional burden of paying for the land.

Community housing organisations are being actively targeted for the scheme as they can develop land and use the repayment terms to build even more affordable housing. So far 30 parcels of Crown or Housing New Zealand land are in the scheme.

The National-led Government already supports housing affordability through measures including Kiwisaver First Home Deposit Subsidy, the First Home Withdrawal, Welcome Home Loans, the Housing Innovation Fund, and the Tenant Home Ownership Programme.

More information: http://www.beehive.govt.nz/release/gateway+improve+housing+affordability+0

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