19 May 2005

Hon Steve Maharey Minister of Housing

Housing increase targets those in need

Budget 2005 allocates an additional $134 million over the next four years to provide 1300 new homes for those in need, says Housing Minister Steve Maharey.

The funding, comprising $130.6 million capital and $3.7 million operating, will help reduce waiting lists and waiting times in areas of high housing demand – particularly Auckland.

"The extra homes, together with those previously agreed, will bring to 3,288 the number of properties Housing New Zealand Corporation will add to its residential stock over the forecast period through its state and community housing build, buy and lease acquisition programme," Steve Maharey said.

There is also $10 million in new capital funding to complete the resettlement of the remaining residents from the Kimberley Centre near Levin.

Other housing initiatives funded through Budget 2005 include:
- continuation of the Rural Housing programme to address sub-standard housing in rural areas ($22.6 million operating over the next three financial years)
- continuation of the Community Renewal programme to improve housing and social conditions in deprived areas ($7.4 million operating over the next three financial years)
- continuation of the Healthy Housing programme to reduce housing and health risks in overcrowded homes ($2.7 million operating over the next three financial years)
- Housing Innovation Fund ($440,000 operating in 2005/06 to work with Wellington City Council on management of the city’s housing stock).

ENDS

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