14 oct. 1974 - Housing Corporation of New Zealand - created

Description:

Housing Corporation of NZ was created through a merger of the State Advances Corporation and Housing Division of the Ministry of Works

The Housing Corporation Act 1974 established the Housing Corporation of New Zealand that encompassed the functions of the Urban Division of the State Advances Corporation (responsible for the rental of state houses and the provision of mortgages for housing) and the Housing Division of the Ministry of Works (responsible for the state house construction programme). The Corporation also took over the housing of the elderly from the Department of Health. This merged the planning, construction and administrative responsibilities for the State Housing Scheme.
The Corporation also took over the work of the National Housing Council of New Zealand.
The Corporation had housing built for letting (state houses), managed state house tenancies and granted mortgages.
The core of the Corporation’s lending operations continued to be the ‘Modest Income Scheme’ which provided first home loans for modest income families at interest rates related to the borrower’s income.
During the period ending 31 March 1975, the newly created Housing Corporation administered 52,559 units and a total of 1,179 units were sold. As at 31 March 1975, the Housing Corporation had 16,427 accommodation applications on hand. Of these, 29.5 percent were social welfare beneficiaries, 55.2 percent were married couples with children and 34.5 percent were sole parents.

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

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