A publicly-funded programme set up two years ago to help people buy their first home is yet to do so for even a single family.
The Christchurch Housing Initiative – Te Whāriki tū-ā-Rongo – began in September 2019 with the aim of helping 50 low to modest income families buy their own home through a shared loan scheme.
The programme was initially hindered by regulatory issues so it switched to a shared ownership model in mid-2020. But that was then beset by lending problems.
To date, eight families shortlisted for the programme remain in limbo over their chances to own a home.
So $6 million announced and over two years the only ones to have benefited are lawyers!