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The KiwiSaver providers have joined what’s dubbed The Aotearoa Pledge, which aims to fund the building of affordable owner-occupied housing, as well as social rental housing, and shared equity schemes with community housing providers. Shared equity schemes allow people who cannot save a deposit, but can fund a mortgage, to progressively buy out an investment partner, which at the start of the deal owns a portion of the equity in a home.
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The Salvation Army s new community housing development in Westgate, west Auckland. The scheme was the brainchild of James Palmer, the chief executive of the $230m Christian Savings scheme.