sep 15, 2009 - State House sales - restart

Description:

From this time, state house tenants were able to purchase their home at their current market valuation. Houses excluded from sale included unit titles, apartments and duplex properties, houses identified for strategic redevelopment and properties that may be land-banked for future Treaty settlements (ie land area greater than 1 hectare). If a tenant was unable to purchase a house because of one of these exclusions, the Housing New Zealand Corporation could offer a similar vacant property. Proceeds from sales were used to build, buy or lease replacement state house stock. Tenants who purchased their houses were ineligible for a state house for a period of 3 years following purchase. Of the total 5,500 tenants paying market rents, it was estimated that around 2,800 were living in state houses that would be offered for sale. No Government subsidies were available to assist a tenant in buying their home, but the tenant could qualify for a Welcome Home Loan which has a lower deposit requirement than other loans provided by the main banks.

Source: https://www.msd.govt.nz/about-msd-and-our-work/about-msd/history/social-assistance-chronology-programme-history.html