NEW ZEALAND HOUSING FOUNDATION

ANNUAL GENERAL REPORT 2015

1 | NEW ZEALAND HOUSING FOUNDATION

Chairpersons report

Stories from Families

Finance Report

Who we are

Many Partners, One Goal

Moving in day

The Numbers

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17

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1513

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CONTENTS

TRUSTEESTony Lanigan Chairperson

John Delugar

Ian Mitchell

Campbell Roberts

Bill Roest

Ken Stevenson

MANAGEMENT TEAMBrian Donnelly Executive Director

Dominic Foote Operations Manager

Louise Dunn Programme Manager

Joanne Campbell Financial Controller

Rene Patolo Office Administration Manager

Jody McMillan Office Project Manager

Frank Rientjes Project Manager - Construction

Janice Thompson Maori Housing Facilitator

Terry Foster Project Manager – Community Support

Greg Freeman Project Manager – Waimahia Inlet

Bill King Project Manager – Christchurch

Austin Parsons Housing Support Manager

Nigel Spratt Consultant – Equity Homes

Lynne Pillay Consultant – Households /Community engagement

Malcolm Hope Consultant

ANNUAL GENERAL REPORT 2015 | 2

CHAIRPERSON’S REPORT

It has been another busy year for the Housing Foundation, with great outcomes and new housing developments in progress. In collaboration with our partner organisations and other Community Housing Providers, we saw the completion of new developments in Sunnyvale and Papatoetoe in Auckland, with families all settled into their new healthy and affordable homes.

We continue to work with families across all our developments in our Shared Homeowner, Affordable rental and HomeSaver programmes to assist them in managing their financial goals so they continue to be on track towards independent home ownership outcomes. We’d like to say congratulations to the 26 families that finally met all their goals and have now bought their home outright in the last year. It is also important at the Housing Foundation that we are creating long lasting communities and neighbourhoods, where people feel safe through knowing each other. We aim for our new homes to be affordable to purchase and to maintain in the years ahead. At the same time we strive for good quality, healthy and warm homes where the families’ well-being is significantly improved over time.

The shortage of affordable housing, particularly in Auckland has seen an increase in families being shut out of both the rental and property purchase market at prices they can’t afford. Due to this, and an increase in public awareness of the Housing Foundation, we have seen significantly more demand and interest for our housing programmes. The demographic of families inquiring is also changing, with many households on slightly higher incomes with deposits and low debt, unable to purchase an affordable healthy home that suits their needs on the open market. At the other end of the scale there are also more families struggling to find any affordable rental housing that is suitable. This is pushing more people to look for alternate options for securing stable affordable rental housing that meets their immediate needs and offers ways of potentially owning their first home at some point in the future. We will look to respond to this demand with broadening the scope of the programmes we offer.

Construction in Hornby, Christchurch is well underway. Last year we focussed on the infrastructure ground works and this year we are seeing the houses being built. We are now very focused on the placemaking aspects of the new

neighbourhood and also heavily involved with the project management of the houses being built for the Salvation Army and other Community Housing Providers . We look to have families moving into the Housing Foundation homes by early next year.

Our major development at Waimahia inlet in Auckland is a great example of how by collaborating with our ever expanding partner organisations, the Housing Foundation is well on the way to building 290 new homes and creating a vibrant and diverse new community. The development is progressing well, with many families moved in and the rest of the builds on schedule. It is starting to take shape and is the most affordable new housing development in Auckland.

This year we said goodbye to Megan Hawkins our Office Project Manager. Thank you for your contribution to the Housing Foundation, you will be missed, we wish you luck in your new job. Jody McMillan has joined the team with a background in community work. The rest of our team, both management, governance and our partner organisations have remained solid and committed to the outcomes we are achieving. Thank you to all of you for your ongoing work.

I again wish to thank my fellow Trustees and the management for their sterling efforts during the year. We continue to review and strategically assess how the Housing Foundation can grow and achieve better housing outcomes for low income households in NZ and support the robust development of capacity of the community housing provider sector.

The Housing Foundation is excited about what we do and our future. We have seen a significant increase in demand for our services over the last 12 months. We look forward to continuing in assisting New Zealanders into affordable and healthy homes. We also look forward to seeing more families moving on to more independent living outcomes and eventually homeownership, through our housing programmes.

Dr Tony Lanigan Chairperson New Zealand Housing Foundation

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“WE’RE EXCITED ABOUT WHAT WE DO

AND OUR FUTURE”DR TONY LANIGAN

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WHO WE ARE

What brought you to work with the Housing Foundation?

Lynne - Whilst I was the MP for Waitakere I saw first-hand the HF development at Glen Eden and the difference a healthy, safe affordable home made to families lives.  I was a very enthusiastic promoter of the scheme to my constituents and within the local community. When I retired from politics, working for HF was the ONLY job I wanted!

Bill - An interest in affordable housing provision and property development. Concern about the increasing barriers to home ownership across a variety of households.

Greg - I was asked to assist with the community engagement process at Waimahia Inlet while still working for HNZ and I then jumped at the opportunity to be involved on a full time basis.

Austin – Executive Director Brian Donnelly, spoke with me about the work that the HF had achieved and had planned for the years moving forward. It appealed to me and I took up the opportunity to join the team. I started with the HF Feb 2011.

Janice - After working with Council for 11 years, I was ready for a change! This job presented me with an opportunity to move into a different field - housing, whilst giving me the satisfaction of working with families to achieve their aspirations.

The Housing Foundation is made up of the Board of Trustees and a Management team. The roles and work required to achieve our outcomes are varied, supporting households and managing the processes involved with signing households up to our programmes, acquiring more land to build on, working with our partners and managing the design of the houses and ensuring the new neighbourhoods are great places to live.

We have a strong team who work directly with the households, and assist them with what they need to achieve a better housing outcome long term and over time independent homeownership. They are there from the initial first meet, working through the processes to handing over the keys to their new home, and ongoing support towards independent living.

Austin Parsons - Housing Support Manager, Janice Thompson – Maori Housing Facilitator, Greg Freeman – Waimahia Project Manager, Bill King – Christchurch Project Manager and Lynne Pillay – Households/Community engagement Consultant share their experiences.

“EVERY FAMILY HAS A WONDERFUL STORY.”LYNNE

HELPNG OUT ON MOVING IN DAY

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Any memorable moments since working with the Housing Foundation?

Lynne - Every family has a wonderful story. One story that makes me feel really good is that of a woman who was widowed with three children. She had considerable debt as a result of her husband’s illness and funeral expenses. Despite that she was working two jobs to clear debt and to provide a stable home for her family. We assisted her with a budget, she cleared her debt and she moved into her new HF home a few months ago. She loves the house and is so very happy now that she and her family have the security of their own home

Austin – They are all memorable, that’s what I like about this role. All families and individuals to me are very important, so (treat people the way you like to be treated yourself) with respect and courtesy. All of the 85 houses I have been involved with, have started from the family visit, right through to the following up with the family to understand why the family is deserving to have their own home. The handover is a special day, the family has achieved, and now have a secure new home to live in that they can call their own.

Janice - One family I worked with was renting privately for years and had tried to get the landlord to address the damp and mould in the house but with little success. Their four children were always sick with asthma and bronchitis, leaving Mum very stressed. Through HF, they received support to resolve their finances and since moving in to their new warm home, the kids are much healthier. Mum has been able to grow her business because she’s less stressed about the home and finance situations now- she just seems to have more spark and energy in her eyes these days. It’s amazing.

“THE HANDOVER IS A SPECIAL DAY, THE FAMILY

HAS ACHIEVED, AND NOW OWN THEIR FIRST HOME.”

LYNNE AND AUSTIN

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What do you find rewarding in your role?

Bill - Knowing that what I do can contribute to a family achieving what will often be the most satisfying, rewarding and long lasting achievement for that family.

Greg - Meeting so many great people. Being able to assist and guide families in what may be their biggest decision in life, is very rewarding.

Austin – The challenges of the role….We are assisting people who are looking to make important decisions and commitments for them and their families. Most of them are going to work, so they can afford to pay for it, as we all do, and provide a safe haven for the family.

Visiting family groups to discuss their needs, answering questions and being transparent to show that we do exist, gives me a better understanding of the applicants. Taking calls from a wide range of families from all walks of life looking to live in a safe, secure home.

What does having a stake in your own home mean to you?

Bill - It provides independence, confidence, family stability and a stake in a community or neighbourhood.

Greg - The eventual ownership of a home will bring financial security in future years. Who wants to be paying rent on a pension?  I am sure ownership brings a chance at better family health, education and social outcomes. 

Janice - I think a greater stake of ownership offers families the opportunity to provide stability and opportunities for themselves. Stability in the sense that they have a place that’s theirs, a place they have more control over what happens, unlike Renters who face all kinds of situations out of their control such as having to move out if a landlord unexpectedly sells. Facing the sad realisation that the place you invested so much of your time into was never yours. And opportunities to explore further options, growth and investments for your children and theirs. The kind of opportunities that you know you simply would not have opened to you had you not been a home owner e.g. assisting your children to buy their place.

JANICE AND GREG

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What does community mean to you?

Lynne - Community is about where you live, where you work and where you play. It is about feeling connected with your family, your neighbours and all the things that happen around where you live, and getting involved in those things. It may be about taking part in activities at places like your local school or helping run community events, it may be campaigning to improve things in your community, and it may be about supporting others or getting support from others. The sense of being part of a community is fantastic and the more activity the greater the community. Community involvement also empowers people to gain skills which can lead to exciting career aspirations.  

Austin – Definition of Community (A body of people living in one district). The prime example of this is West Coast Road, Glen Eden development. Holding bbqs, tree planting days and generally enjoying their own family home, obtained through the HF. I get to see this with the Annual Household Reviews. Along with two developments in Massey, Takanini, Mt Roskill,

Papatoetoe, and no doubt the largest Waimahia Inlet has yet to be tested. At this stage it’s looking to be a really well connected Community, for all to be proud of.

Greg - Residential communities are the backbone of our society – they are complex and dynamic but we all usually want to be part of one.  It’s part of making a house into a home, that sense of belonging to a place which is brought about by connecting and engaging with others. I think it’s great that the HF understands and supports this process of community building.

“WHAT I DO CAN CONTRIBUTE TO A FAMILY ACHIEVING WHAT WILL OFTEN BE THE MOST SATISFYING, REWARDING AND LONG LASTING ACHIEVEMENT FOR THAT FAMILY.”BILL

SUNNYVALE COMMUNITY BBQ, MAY 2015

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Cynthia, Tamarua and their kids Anton, Sae’Leigh, Lealin and Kodi were renting just down the road from where they now live in their new home with assistance from the Housing Foundation. They moved in to their home in Papatoetoe in September 2014 as Shared Home Owners, and had been striving to purchase their own home for years.

“Oh yeah, since our first son was born, he’s going on 13 now. We weren’t too sure on how to do it and it felt impossible. Deposit, income all the rest. It was difficult.”

Originally from Whakatane, they wanted to build a base for their kids in Auckland “Because we’re not from around here, we both grew up back down in Whakatane. We’ll always be here, so our kids have got stability and somewhere they can come back to.”

Cynthia’s parents still own their own home “It was good as a kid, lots of my friends’ parents rented and moved around a lot more. So owning our own home is what I wanted for our kids.”

They heard about the Housing Foundation in a couple of ways. Tamarua is a scaffolder “One of my mates was a builder on these houses and asked me one day if I would be interested in owning one of these homes. I told him yeah I’m interested and he gave me the number to ring. I went back home and told Cynthia.”

Cynthia and Tamarua

SUCCESS STORIES

Meanwhile, “It just so happened at that time I got an application at work. I initially thought it was a scam, but went home and Tama told me how he works with those guys and it seems legit. So we filled it all out and sent it away.”

“It was all a little bit freaky really, like it was meant to be!”

“We applied and got a letter back that we were approved so sent in all our bank statements. It was so easy. Met with Joe from Kiwibank and next thing we are meeting with lawyers. It was about a year altogether from first applying till we moved in. Took a few months to receive the first letter.”

Cynthia remembers the time going fast. “My mind set was, we’re not going to get it, we’re not going to get it. So that made the time move really fast. It’s not going to happen, it’s too easy.”

“We’re going to get a chance to do it!”

“There was not really any budget changes we needed to make, our place we were renting was a little bit less a week than what our mortgage repayments are. Main difference is now its going into our pockets, it’s not a waste of money. We used to rent from this lady at our old house, just the usual renting problems. It was an old cold house. Usually in winter we’d have to ring them quite often, this is broken, and can you get the fireplace fixed.”

CYNTHIA, TAMARUA AND THEIR KIDS ANTON, SAE’LEIGH, LEALIN AND KODI

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Goodwin Playground

In 2011, the Housing Foundation built homes at Robertson Rd, Mangere for 14 families to move into and begin their journey towards full homeownership. This development is a mixture of Housing Foundation homes alongside Salvation Army homes.

This last year Housing Foundation staff were invited back to celebrate in a new playground the residents of this community lobbied Council to build on an empty reserve next to their homes. Residents named the playground Goodwin Playground after Peter Goodwin Builders who works in partnership with the Housing Foundation. To celebrate, everyone came to together for a Powhiri, lots to eat and of course a play on their new local playground.

“Constantly needing to take sick days off work. The kids were getting sick all the time during winter and now they don’t even get sick anymore. It’s like summer all the time here. It’s double glazed, I freaked out, oh my gosh there’s 2 pieces of glass!”

“You’re never too sure how long you’re going to be there when you are renting, you have an ideal, but at the end of the day the landlord could kick you out or put the rent up at any time.”

They feel settled now and have got to know many of their new neighbours, “They are all great people, all different ethnicities. We think it’s important to get to know your neighbours for security reasons, for the kids, they’re all around the same age. They will be growing up near each other for the next 20 or 30 years.”

“Because it’s a shared home I thought the Housing Foundation would be over here all the time checking up, but they left us alone. It feels like our own house. As long as we look after the place and don’t make any major changes, it’s all good. We had a little hot water thing and we thought who do we tell and then realised, oh that’s us! It’s a little bit exciting too!”

“IT WAS GOOD AS A KID, LOTS OF MY FRIENDS’ PARENTS RENTED AND MOVED AROUND A LOT MORE. SO OWNING OUR OWN HOME IS WHAT I WANTED FOR OUR KIDS.”CYNTHIA

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Melissa, Watene and their kids Bella, Bensen and twins Maia and Max are on the HomeSaver programme in their new home at Waimahia Inlet. They are aiming to clear all their debt in the next 2 years so they can move onto Shared Home Ownership and then Independent Home Ownership.

Before they moved into their home out at Waimahia Inlet in May 2015, they had been renting and had moved around quite a bit as well. The last place they were renting from was expensive and had a lot of issues. “We were there for just over a year, but while we were at that place we went through heaps of dramas. It had all these issues with it, leaking roof, mould growing on all the ceilings and really bad property Managers. When we first moved in it was actually like a nice modern house, but after a few months of being there our babies clothes smelt really musty and were damp. I even changed the cot one day and there was mould growing on the mattress.”

“It eventually got fixed after we brought them to the tenancy tribunal, but it was a really stressful time.”

“We also looked into buying our own home, we got a mortgage broker over and tried to figure it all out, and they were basically like before you get back on 2 incomes there’s just no way. I didn’t understand at first as we could make our expensive rent payments and we had over $40 000 in KiwiSaver, how can we not make mortgage payments? It was because our debts were too high.”

“We’d had certain situations thrown at us over time, we got in a bit of debt and that really sucked. Watene got made unexpectedly redundant, and he had a car he was paying off which before he got made redundant wasn’t a problem. We then found out I was pregnant with twins! Our only option seemed to be renting, so we just house-hopped really.”

“My mum mentioned the Housing Foundation to me and was raving about it!”

“It took nearly a year from first applying to getting into our home, it was quite a long process and a lot of paperwork. Janice was awesome, such a helpful kind person. And Greg too. I was definitely hesitant, it was quite scary, big commitment. Getting your own home feels quite final.”

“This is the most settled we’ve been in a long time. I feel that in a lot of ways now for being here.”

“We’ve been through a lot of stressful times, some that we’ve brought on ourselves, but a lot of bad luck as well. This felt like a relief, to have something stable and a community. I got brought up in Weymouth myself and went to Weymouth primary so it’s nice to bring the kids up here.”

“Even though we are on the HomeSaver pathway we’re not made to feel like we are just renting or that this isn’t our home. This is totally our home. We are trying to nail our debt over the next 2 years, we want to do it in 2 years instead of 5 years. We were spending way too much on rent so we are saving on that now. It was such a cold house so we were always running the dehumidifier so our electricity was more expensive too. This house is actually super warm.”

“We just needed a chance. We knew we would be sweet, and I’ve just started business from home so I can stay with the kids. Every weekend we’d drive through and see how much of our house had been built. We were a bit worried as we thought they looked super close, but honestly you can’t tell. The double-glazed windows helps and everyone’s just busy living their own lives. The kids will chuck their gummies on and cruise over to the reserve.”

“Community is real important to us, especially since we’ve got 4 kids. And we have got to know our neighbours. The Housing Foundation put on a bbq which was really cool. Everyone is super friendly and watches out for each other. Everyone’s on the same page which is great.”

Bella (9years), tells me what she likes about her new home, “I like my neighbours. We were really excited about moving in. We have a backyard big enough for a trampoline, it’s a more comfortable place, it’s not tiny, perfect amount of room. It came with a free heater!”

Melissa and Watene

MAIA AND BENSEN

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Jaime, her partner Shaun and their 5 year old daughter moved into their home in Waimahia Inlet in April 2015. They have got their house through the Shared Home Ownership programme and are on the path to owning their home independently.

“Immediately before moving into this home we were living with my parents to get the debt down. Previous to that we have been renting on and off between houses and my parents place for the last 12 years, it’s only since we had our daughter, who is 5 now that the concept of buying a home became a priority.”

She had tried visiting a bank to see what she could borrow towards a mortgage, “With no savings, debt to pay and utilising my KiwiSaver, I wouldn’t manage enough for a mortgage – feedback was that I needed to bring my debt down considerably”

“It first dawned on me when our daughter was a 1 year old and we were told the house we were renting was going up for sale – I knew we needed our own home sooner rather than later, the feeling of uplifting my baby because I wasn’t in control of our living situation made me feel uneasy and I wanted her to have a place to call her own. Secondly our financial future – the investment in the long run would benefit her and I don’t want her to struggle through renting as we did.”

She found the process of applying to the Housing Foundation many things. “Exciting and scary come to mind. You have to be patient and understanding that this is an opportunity that not everyone that applies automatically gets.”

“Exciting for the concept of actually owning your own home, if I could do that, I was content and overjoyed with emotion for my daughter and what I would be providing her.”

“Scary because there’s always the possibility things might not work out… Luckily for us they did, we are so grateful. Janice looked after me during the process and she was great! I had easy communication with her, text, email or phone calls anytime. She was always encouraging and I felt she was genuinely excited about our journey.”

“There haven’t been any major budget changes since moving – I have just had to forecast my budget one month ahead to allow for the new costs that goes with owning a stake in the house, rates, water etc.. Which is working out really well so far. I have found that now that I’m so happily content in our brand new home that I don’t stress over money, as I am no longer chasing my savings tail around in circles – I tend to spend it more wisely with confidence and respect.”

“It means the world to me having my own home. I am now laying a solid foundation for my daughter and my grandchildren in the future. I am only the 3rd cousin of my generation to have my own home – and I have approx. 20 first cousins alone – so doesn’t take into account my extended cousins my age with young families. I’m so proud – mostly for my daughter.”

“I’d just like to say THANK YOU! Our families are so proud and happy for us, and I guess we would have made it eventually years down the track into our first home, but this programme has been a blessing to say the least. I wish I could get all my family into the programme – I know so many young families that could benefit from being in a programme like this, we have been spreading our Housing Foundation story.”

Jaime and Shaun

“JANICE LOOKED AFTER ME DURING THE PROCESS AND SHE WAS GREAT! SHE WAS ALWAYS ENCOURAGING AND I FELT SHE WAS GENUINELY EXCITED ABOUT OUR JOURNEY.”JAIME

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MOVING IN DAY

WE HAVE BUILT 385 HOMES TO DATE. HERE ARE JUST A FEW OF THE HAPPY FAMILIES WE HAVE HELPED MOVE IN TO THEIR NEW HOME...

Fiona Murrary

Lynette and Scott Douglas

Melissa Walen

Tau and Kelly Masters

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Eric Lopeti and Lisa with their new keys

Morewa Wilson and Natasha Kaweroa

Cynthia and Tama

Melissa and Watene

ANNUAL GENERAL REPORT 2015 | 14

MANY PARTNERS, ONE GOAL

As a not-for-profit Charitable Trust, the Housing Foundation wouldn’t exist without the vision and ongoing support of The Tindall Foundation. Executive Director Brian Donnelly was pleased to accept the award for “outstanding leadership in this sector” on behalf of the Housing Foundation in June this year.  So thankyou to The Tindall Foundation for your continued support.

The Housing Foundation is able to achieve its outcomes by working in partnership with many different organisations and businesses at various stages in the community and urban development process. These include other community housing providers, banks, building contractors and many more groups.

Alice Sciascia is the General Manager for Te Tumu Kainga which is a not-for-profit Community Housing Provider established to support Maori Housing needs and aspirations. We spoke to her about working in partnership with the Housing Foundation.

How is your organisation involved with the Housing Foundation?

The Housing Foundation are our development partners and our contracted tenancy and facilities management providers at Waimahia Inlet.

What are the benefits of working in partnership with Housing Foundation?

We have received many benefits from working in partnership with Housing Foundation:

• Having a presence ‘on the ground’ at Waimahia that we are confident reflects our values and intended impacts.

• Confidence in the viability and success of the Waimahia Inlet project

• Mentoring and support for learning about community housing (generally and on specific issues) for our management

• Support and collegiality at a governance level for our Board

• Ongoing learning and performance improvement opportunities

• Supporting and mentoring our Whanau

Brian Donnelly at the Tindall Foundation awards ceremony

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The Housing Foundation would like to acknowledge our many and varied partner organisations. We collaborate with a broad range of businesses and organisations that bring a range of skills and specialist expertise to achieve our outcomes. Thank you to you all.

• The Tindall Foundation• Banks• Builders• Central Government• Community Support Agencies• Councils; including council controlled organisations

and Local Boards• Development Construction Consultants• Development and Construction Contractors• Iwi, Hapu and Maori Trusts• Philanthropic funders• Product suppliers

The scope in which we are able to assist New Zealanders in need, stretches beyond those we work with through the housing programmes we provide within the Housing Foundation. Through collaboration and sharing our knowledge, we have been able to add to the housing stock and provide opportunities with other Community Housing Providers. Enabling others to meet the same goals we have; to relieve poverty by providing or assisting the provision of affordable housing for low income persons and households in New Zealand.

What has been a highlight of the year?

Having our first families move into their homes, with Janice there demonstrating the fantastic relationship she has formed with the families to help get them there.

What has proved most challenging?

There are many families coming forward in need of healthy and safe homes to live in. It is an ongoing challenge to meet the demand and find more housing opportunities to assist New Zealanders.

What impact is Housing Foundation having locally?

The impact that Waimahia Inlet is having for the families who get allocated to houses there is absolutely enormous. The role that Housing Foundation have played in getting Waimahia off the ground and assisting us to provide Community Rentals, HomeSaver and Shared Home Ownership programmes cannot be overstated.

Here are providers we have worked with over the years;• Abbeyfield• Accessible Properties• Airedale Properties• Auckland Community Housing Trust• Bays Community Housing Trust• Carpentry Trade Training with schools; including

Massey High School• Community Housing Aotearoa• Coromandel Independent Living Trust• CORT Community Housing • Dwell Housing Trust• Habitat for Humanity• HNZC• Housing Plus• Marlborough Sustainable Housing Trust• Monte Cecilia Housing Trust• Pukaki Trust• Tauranga Community Housing Trust• Te Tumu Kainga• The Salvation Army• Vision West

ANNUAL GENERAL REPORT 2015 | 16

FINANCE REPORT

Group Group

Revenue from exchange transactions 2015 2014

Property Sales 10,222,664 6,091,780

Less Property Purchases 9,456,131 5,564,558

766,533 527,222

Other Operating Revenue

Grants received 4,502,319 3,298,407

Rent received 803,007 716,893

Other fees, interest and capital gains 2,807,159 1,275,514

8,112,485 5,290,814

Less Expenses

Operating and admin expenses 1,400,066 1,347,475

Interest 402,896 385,502

1,802,962 1,732,977

Net Surplus 7,076,056 4,085,059

Partner’s share of surplus from Waimahia Inlet 82,734 22,830

Net Surplus and Total Comprehensive Revenue & Expenses

7,158,790 4,107,889

Group Group

Current Assets 2015 2014

Cash and cash equivalents 10,853,683 6,214,914

Receivables 286,284 547,646

Land & Buildings held for sale 4,135,395 2,043,841

Work in Progress 8,001,925 5,876,510

23,277,287 14,682,911

Current Liabilities

Accounts/GST Payable 955,766 1,526,902

Grant facilities 2,400,568 2,310,218

Retentions/Deposits received in advance 203,886 563,422

Term loan payable - current portion 6,362,930 2,921,756

9,923,150 7,322,298

Net Current Assets 13,354,137 7,360,613

Non Current Assets

Land & Buildings 18,494,330 18,789,796

Computers & Office Equipment 6,813 8,450

Investments 105,589 22,855

18,606,732 18,821,101

Non Current Liabilities

Term Loan Payable 7,057,710 8,437,345

Net Assets 24,903,159 17,744,369

Trust and Shareholder’s Equity

24,903,459 17,744,369

Statement of Comprehensive Revenue and ExpensesFor the Year Ended 31 March 2015

Statement of Financial PositionAs at 31 March 2015

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Audited Accounts for New Zealand Housing Foundation and Housing Foundation Ltd

THE NUMBERS

HOUSEHOLDS IN ASSISTED OWNERSHIP

PROGRAMMES

HOUSEHOLDS WE ARE ACTIVELY WORKING WITH

HOMES HAVE BEEN BUILT TO DATE

HOMES TO BE BUILT IN THE NEXT FEW YEARS

HOUSEHOLDS HAVE REGISTERED INTEREST IN THE LAST YEAR

NEIGHBOURHOODS UNDERWAY IN 2015:

Hornby, ChristchurchWaimahia Inlet, South Auckland

Trent St, West Auckland Orchard St, West Auckland

RECENT NEIGHBOURHOODS COMPLETED:

Cambridge Tce, South Auckland Denver Avenue, West Auckland

HOUSEHOLDS COMPLETED OUR PROGRAMMES &

ARE NOW INDEPENDENT HOMEOWNERS

IN AFFORDABLE EQUITY (SHARED

HOME OWNERSHIP)

IN AFFORDABLE RENTAL

HOUSEHOLDS IN HOMESAVER

139

243

385 391

1448

261062310 + + = PROCEEDS REINVESTED INTO NEW

PROGRAMMES

ANNUAL GENERAL REPORT 2015 | 18

These households have all been through our application process and are approved for one of our programmes. They are on our waiting list and are being supported with Financial

Literacy, Budgeting Services and Occupancy Education.

These households have all filled in our registration form and have been added to our database. Some have received

applications for our current developments and others are waiting to apply for future developments in their preferred areas.

Postal AddressP O Box 44018, Pt Chevalier, Auckland 1246

www.housingfoundation.co.nz

Phone 0800 4 Housing (0800 446 874)

Email info@housingfoundation.co.nz