TRC lets whānau with combined incomes of around $85,000 to join the programme. Photo / Tāmaki Regeneration Company
TRC lets whānau with combined incomes of around $85,000 to join the programme. Photo / Tāmaki Regeneration Company
Auckland’s Tāmaki Regeneration Company,a government-backed initiative, has unveiled the latest round of its shared ownership programme.
Own It lets whānau buy a share of their home and rent the rest from TRC, making it possible to buy a home with a lower deposit and lower mortgage repayments than would be possible with a traditional home loan.
Most TRC homes are in Glen Innes, Pt England and Panmure.
“Whether you have a connection to Tāmaki or you want to lay down your roots here, Own It meets whānau exactly where they are and walks beside them through their home ownership journey,” Tāmaki Regeneration chief executive Shelley Katae says.
Auckland ranks among the world’s least affordable housing markets at 88th out of 94 markets according to the latest Demographia International Housing Affordability Report.
TRC works with a range of stakeholders including Auckland Council, iwi, community groups and businesses. Its mandate is to work in a “culturally responsive” way.
Whānau are matched with a home that meets their unique needs – from two- to five-bedroom homes. Photo / Tāmaki Regeneration Company
“Own It helps remove the hurdles associated with home buying and empowers Tāmaki residents and tangata whenua to confidently step into their place,” Katae says.
Whānau are matched with a home that meets their specific needs – from two- to five-bedroom homes.
Mārena Mane, a kaiako (teacher) and journalist, shared her journey from being a single mother of two to homeowner.
“One of the major things that has changed with being a homeowner is giving security to my family, to my boys. It’s given me huge financial literacy that I can pass on to my children. It has changed my thinking,” Mane says.
What sets Own It apart is its proximity to central Auckland, according to social transformation and partnerships general manager Afoa Tevita Malolo.
“This proud, diverse community has a rich local business hub, green open spaces, a range of schools, and convenient transport options. It’s down by the coast, and just 12 minutes from the CBD.”
Malolo acknowledged the homeownership journey comes with hurdles but stresses the satisfaction that follows.
“The stability, community, and pride that comes through home ownership can sometimes feel like a distant horizon, but the Own It programme will help you get there. Every journey to a distant horizon begins with a single step,” Malolo says.
TRC is tasked with building 10,500 homes in Tāmaki over the next 20 years, in a mix of public, affordable and open market housing.
