Housing

Supporting whānau to access affordable healthy housing and buy their own home

Welcome to the KA URUORA housing programme

The Ka Uruora housing programme has been established to support whānau to access affordable healthy housing and to buy their own home. The programme has been developed by Te Atiawa and Taranaki Iwi with key funding support from TSB Community Trust, Te Puni Kōkiri and Te Tumu Kāinga.

KA URUORA shared home ownership

Ka Uruora will work with iwi to offer whānau the opportunity to buy their own home under a shared homeownership programme.

Under this programme, Ka Uruora will share the purchase cost and ownership of housing offered until whānau can afford to take full ownership – much like your parents or wider whānau might help with the deposit on your first home.

Note a strict application process for the shared ownership programme will apply. Ka Uruora funds available for the programme are limited.

To participate in the housing programme, whānau members will need to be participating in Ka Uruora’s savings and financial education programmes – register now.

Additional information on Ka Uruora’s financial education programme, $orted Kāinga Ora, including eligibility criteria can be found at $orted Kāinga Ora.

HOW COULD IT WORK?

  • Ka Uruora has been working with iwi to offer new 3-bedroom housing for $450,000 under the Ka Uruora shared ownership programme
  • Tane & Aroha are interested in buying their first home under the programme. They have a combined household income of $75,000 and have been saving for 5 years under the Ka Uruora Savings Programme. Together with KiwiSaver Homestart grants, they have a deposit of $45,000
  • Based on Tane & Aroha’s combined income, the Ka Uruora team have assessed that:
    • they can afford mortgage repayments of $433 / week (30% of gross income)…
    • which (at bank mortgage rates at the time) equated to a bank loan of $335,000
  • Combining the above affordable bank loan ($335,000) and deposit ($45,000), Tane & Aroha are short $70,000 to afford to buy the new home
  • Ka Uruora agrees to top up this shortfall under the shared ownership programme to assist Tane & Aroha acquire and start living in their new home. Ka Uruora agrees not to charge any interest on its share of the house
  • The Ka Uruora team then work with and support Tane & Aroha develop a plan to achieve full ownership and pay back Ka Uruora’s share over time

Click on graphic to expand

What’s next?

  • This programme is designed to make the step of buying your own home more affordable, helping whānau exit renting and access healthy, affordable housing that they own.
  • Ka Uruora is currently working with iwi to plan what affordable healthy housing will be offered to whānau under the programme. Announcements will be made to members in due course, once plans are further developed.
  • To participate in the housing programme, whānau members will need to be participating in Ka Uruora’s Saving and financial education programmes – register now.