- The Government will increase funding for social house subsidies from about 62,000 places currently to around 65,000 places by 2017/18 at an estimated cost of another $40 million a year.
- A $500,000 cash injection will be available for emergency housing, alongside a wider review of funding.
- An additional 3,000 tenancy reviews in the next couple of years will focus on market or near-market renters.
- Engagement and consultation will begin soon, including with community housing providers and iwi with a view to selling between 1,000 and 2,000 Housing New Zealand properties over the coming year for use as social housing run by approved community housing providers.
- The Government is committed to maintaining at least 60,000 properties in Housing New Zealand’s portfolio by 2017.
So the Government is actual going to spend an extra $40 million a year helping low income families get into social housing with an income related rental. No doubt Labour and the Greens will decry this as neoliberalism and oppressing the poor!