First six whānau are already preparing to move into brand new homes
Tāmaki Regeneration Company (TRC)’s shared home ownership programme has kicked off this month – with the first six whānau already preparing to move into their brand new homes.
TRC’s Pathways to Housing Independence (PHI) programme was delivered in partnership with the New Zealand Housing Foundation (NZHF), the Commission for Financial Capability, and local community organisations.
It aims to help whānau own homes through financial capability workshops and one-on-one mentoring – resulting in some whānau being able to stay in their state house and paying affordable rent while saving for a mortgage.
“Home ownership is such a game changer. It’s not just about being able to put your own photos on the wall, it’s about stability for your whānau, keeping your kids at the same school and it’s an asset for your entire whānau for generations to come,” said Shelley Katae, GM strategy and performance at TRC.
“Our programme shows how government-backed shared home ownership can work on the ground. We are focusing on supporting the wellbeing of people in our community, and providing affordable home ownership opportunities for our Tāmaki whānau is an important part of our approach.”
Read more: Hamilton's housing is “severely unaffordable”
Whānau who got accepted into the shared home ownership programme will purchase approximately 70% of their home, while TRC would own the remaining 30%. They are then expected to gradually buy out TRC’s share over time.
Currently, there are more than 100 Tāmaki whānau who are either ready right now, or will be in the next 12 months, to buy a home through programme.
“The absolute key to success in the PHI programme has been the depth of experience and open way of working that our delivery partners have brought to the table,” Shelley said.
