Deloitte: shared equity schemes could arrest declining home ownership
“For the growing group of New Zealanders struggling to get on the housing ladder, we have tested whether shared home ownership solutions could be the helping hand they need to get across the line and to what extent these solutions could be scaled up,” Deloitte says.
Existing shared equity schemes are currently relatively small but they have accelerated rapidly since the Ministry of Housing and Development's progressive home ownership fund in July 2020, it says.
“Since that time, more than 1,700 shared home ownership homes have been delivered compred to roughly 1,000 between 2007 and July 2020.”
The 15 housing sector participants Deloitte spoke to told it that constraints include availability of funding, credit conditions and the cost of debt, land and construction costs and the absence of a national affordable housing strategy, the accounting firm says.
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