Source: ASB
The Accelerated Housing Fund will now be on track to deliver thousands more homes with a doubled fund of $1 billion.
ASB is announcing an expansion of its Accelerated Housing Fund to $1 billion from $500 million. By doubling its commitment to accelerate housing delivery where it’s most needed, the change reinforces ASB’s position as a champion for social and affordable housing in New Zealand.
Since its inception in November 2023, the Fund has committed $420m of lending supporting the delivery of and long-term investment into over 1000 new homes, demonstrating the bank’s commitment to enabling a wide range of housing solutions across the country.
ASB is further reducing presale requirements for affordable housing, making the fund more accessible to a wider range of housing developments.
“We are intent on helping more New Zealanders into homes, and part of that is being an enabler of new housing development and investment through all stages of the economic cycle,” says Ben Speedy ASB’s General Manager of Commercial Banking and Business Strategy.
“We have a role to play in addressing housing supply by supporting Kiwi businesses and not-for-profits who have the solutions New Zealand needs. With the expanded fund we’ve evolved the way we lend, making it easier for social and affordable housing projects right across the continuum to get off the ground, sooner”
“The expansion of our Accelerated Housing Fund aligns with the Government’s recent announcement of the Community Housing Provider Loan Guarantee scheme. We see this as an important step in supporting the community housing sector to deliver more homes for New Zealanders.” says Ben Speedy.
