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Home ownership, once a common part of life in New Zealand, has been severely eroded through stagnant incomes, high interest rates, housing ‘bubbles’ and other inflationary aspects of the present financial system. Ownership is the key to better wealth distribution. When properties are owner occupied, homes are better maintained, populations are more stable and communities more cohesive. All these add to the prosperity of a region’s economy.


To that end Social Credit will:


• Encourage home ownership by investing $3.4 billion in housing annually


• Help young families, first home buyers, and qualifying people on low incomes into home ownership through the provision of low interest loans


• Loans will be from a division of the Reserve Bank (see Toolkit for a New Economy) through locally owned banking institutions or co-operatives


• Similar funding will be made available for retro-fitting of older homes with energy-saving and water-saving devices, and solar panels. New homes built with eco-friendly features such as solar panels, photovoltaic systems, double glazing and grey water systems will be far more affordable using this lending tool.


• Loan terms will be set so that repayments are affordable

• Implement a Housing Plan, as a dedicated savings scheme to be administered by the Reserve Bank

• Apply the Housing Plan to both new and existing homes, where renovations are energy efficient and environmentally friendly

• Continue administration of state-owned rental units and expand the state owned housing stock

• Invest about $2.8 billion per year in “rent to own” homes to help people on low incomes attain home ownership


• Provide home deposit grants to promote voluntary relocation from high cost housing areas. The grants pay for themselves over 3-4 years through reduced income support payments and reduced accommodation supplements.

See Reclaim Our Well-being for more details on our Rent-to-own policy.

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