Pilot study looks at home ownership

Last updated 15:23 29/05/2014

Relevant offers


A $27m Lotto jackpot has been won by a handful of Kiwis before - what did they do? KiwiSaver funds top $35 billion for first time, Morningstar says ANZ economists warn caution warranted in hot housing market BNZ customers hit by five-hour online outage Lending becoming more difficult as NZ banks clamp down Six months on, Bill English demands more information on debt to income ratios Lotto jackpot: What properties could you buy if you win this week's $27 million? Money tip: Struggling at 25? You'll be twice as wealthy at 35 Red Bull heirs: The Thailand family with 11 billionaires Thousands of NZ customers switched power company through winter

An initiative testing the financial management of Pacific Aucklanders is being launched this weekend.

The three-year pilot programme, Turanga, will be trialled on 60 Pacific families in a bid to identify why few Pacific people are homeowners.

Almost half of all Pacific Aucklanders live in crowded households and are likely to experience long-term debt, Deputy Mayor Penny Hulse said.

"There are significant challenges for many Aucklanders to become homeowners but it can be especially hard for the Pacific community to get a foot on Auckland's housing ladder," Hulse said.

Twenty families a year will take part in Turanga and will provide information about their financial, social and cultural circumstances to identify the challenges they face.

The findings will then be used to develop a programme for each family tailored to their specific needs.

The initiative will be launched in Manukau on Saturday.

"This is not a silver bullet that will fix the problem immediately; we have to be realistic about that," Hulse said.

"But in 15 to 20 years, one-in-eight of the working-age population aged 15 to 39 will be of Pacific origin.

"And if they are not able to get onto the housing ladder, it will have a significant impact on them, their families and the wider Auckland community."

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content