dec 14, 1985 - Sweat Equity Scheme - starts

Description:

Enabled people who could not contribute a sufficient deposit for a loan, but who had good trade skills and who were able to upgrade an older property. While renting the house from the Housing Corporation, the tenant’s effort that was expended in renovating the property became their equity in the house. The Housing Corporation acquired houses for use in the scheme. Developers were encouraged not to demolish houses that might be suitable for the scheme. Houses were offered to the Housing Corporation through gift or sale.

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

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