Westpac NZ And Community Housing Aotearoa Announce New Partnership
Press Release – Community Housing Aotearoa
Through the three-year partnership, Westpac will support CHA in its mission of delivering affordable housing solutions to communities throughout the country.
Westpac NZ and Community Housing Aotearoa (CHA) have announced a new partnership to help more Kiwi families into affordable, healthy homes.
Through the three-year partnership, Westpac will support CHA in its mission of delivering affordable housing solutions to communities throughout the country.
The partnership includes funding the development of the CHA HUB, an online hub that will provide tools, resources and expert insights for CHA's members, helping them to collaborate and ultimately deliver more affordable housing solutions.
Community Housing Aotearoa is a peak body for community and social housing providers across New Zealand. It has more than 160 members, including community housing providers (CHPs), social service providers, developers, builders, local councils and researchers, with a shared goal of delivering positive social outcomes by increasing the supply of affordable housing.
Paul Gilberd, CEO Community Housing Aotearoa, says the organisation is delighted to be welcoming Westpac as a partner.
'All of our members can benefit from the solutions and expertise Westpac is contributing as part of this partnership. And ultimately, that means all of Aotearoa will benefit,' Mr Gilberd says.
'Getting more Kiwi families into their own homes requires a joined-up approach between community housing providers, lenders, builders, planners and local and central Government. Having an online information hub for our members will help us all work better together to ensure all New Zealanders are well-housed.'
Reuben Tucker, Westpac NZ Managing Director Institutional & Business Banking, says it's important to support CHA and bring the sector together to drive greater impact.
'Owning your own home brings a range of financial, social and community wellbeing benefits. Those benefits are being eroded as home ownership rates fall,' Mr Tucker says.
'Community housing providers could help tens of thousands more New Zealanders into their own homes, through innovative and carefully structured solutions using shared equity and leasehold models, but they need support to scale up.
'We've already helped finance more than 700 first home purchases through shared equity and leasehold, but research we published last year showed there are a number of barriers preventing more affordable housing being built.'
Mr Tucker says banks need to be part of the solution.
'At Westpac we recently committed to increase lending to the affordable housing sector to at least $1billion by September 2027. So far this financial year we've lent more than $330m to families participating in affordable housing schemes and we're keen to work with Community Housing Aotearoa's members to continue this momentum.
'Collaboration will be critical in bringing additional affordable and social housing to market. We also welcome the Government's recent announcements to support community housing providers to build more social housing in communities across the country.'
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