Wellbeing Budget 2021

Securing
Our Recovery

Housing and Urban Development

First Home Products

This initiative is intended to support first home buyers into home ownership by lifting the income caps for First Home Products to $95,000 for single buyers and $150,000 for two or more buyers. It will also raise the house price caps for both new and existing properties in areas where the First Home Grant and First Home Loan products were becoming increasingly out of reach for first home buyers.

Vote 2021/22 2022/23 2023/24 2024/25 Operating
Total
Capital
Total
Housing and Urban Development 12.300 12.300 12.300 12.300 49.200 -

Housing Acceleration Fund

This Fund will increase the pace and scale of new housing supply through supporting the provision of infrastructure and housing, and expanding the Land for Housing programme. This will include increasing affordable homes, whether for rent or home ownership, and will focus on locations with high housing need, including Kāinga Ora large-scale projects.

Funded from the COVID-19 Response and Recovery Fund.

Vote 2021/22 2022/23 2023/24 2024/25 Operating
Total
Capital
Total
Housing and Urban Development 354.000 608.000 585.500 570.500 2118.000 1682.000

Kāinga Ora Land Acquisition Fund

This initiative will support Kāinga Ora to borrow so as to purchase land, meet holding costs, and allow for development risks. The total initiative is for $46 million in operating funding per annum over 20 years.

Vote 2021/22 2022/23 2023/24 2024/25 Operating
Total
Capital
Total
Housing and Urban Development 46.000 46.000 46.000 46.000 184.000 -

Kāinga Ora Sustainable Funding

This initiative will enable Kāinga Ora-Homes and Communities (Kāinga Ora) to carry out its core urban development functions under the Kāinga Ora-Homes and Communities Act 2019 and the Urban Development Act 2020. This will enable transformative urban development opportunities to be assessed and progressed, enabling much needed housing and infrastructure to be delivered. It will also enable Kāinga Ora to act as a conduit for government expectations for housing and urban development when working with councils, iwi, developers and other partners.

Vote 2021/22 2022/23 2023/24 2024/25 Operating
Total
Capital
Total
Housing and Urban Development 62.540 70.590 - - 133.130 -

Land for Housing - Professional Services Costs

This initiative covers the departmental professional services costs associated with the acquisition and development of land through the Land for Housing programme. As part of the Housing Acceleration Fund, a component of the initiative was ring fenced to expand the ability of the Land for Housing Programme to strategically acquire land for non-commercial outcomes. The increase in activity for the programme requires specialist services to be procured in the lead up to acquisition of land. This includes professional fees associated with due diligence, feasibility and valuation reports, and other legal fees.

Vote 2021/22 2022/23 2023/24 2024/25 Operating
Total
Capital
Total
Housing and Urban Development (12.000) 4.000 4.000 4.000 - -

Whai Kāinga Whai Oranga

This initiative will see the delivery of new housing and repairs to existing stock for Māori across Aotearoa New Zealand. This is a joint initiative between the Ministry of Housing and Urban Development and Te Puni Kōkiri.

Vote 2021/22 2022/23 2023/24 2024/25 Operating
Total
Capital
Total
Housing and Urban Development 56.850 54.850 64.850 64.850 241.400 -
Māori Development 70.039 33.265 21.708 13.588 138.600 -

Short-Term Housing and Support Services - Extension

This initiative extends key programmes that support those experiencing chronic homelessness or those at increased risk of homelessness, including Housing First, Rapid Rehousing, and Sustaining Tenancies.

Vote 2021/22 2022/23 2023/24 2024/25 Operating
Total
Capital
Total
Housing and Urban Development 54.655 44.900 49.200 49.930 198.685 -
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