News & Events
Accord welcomes new residential construction sector support
- Contractual guidance due to severe weather and flooding events
- Improving health and safety through better design practice
- Construction sector contracts review
- Meet the Transformation Leads
- New operating model for Construction Accord
- Construction Sector Accord launches $37 million transformation plan
- Diversity and inclusion – the right thing and the smart thing for construction
- Panel of recognised Engineers to the Contract launched
- New industry leaders and sector reference groups to guide Accord transformation plan
- Accord is ‘go to’ forum for industry-govt dialogue – independent evaluation
- Departing Accord co-chairs ‘hand over the keys’
- Funding supports new construction sector Transformation Plan
- Immigration Rebalance welcomed by Construction Accord
- Accord publishes 2021 Progress Report
- Accord Steering Group – call for new members
- Construction MIQ closes after helping hundreds
- Accord Environment Roadmap released
- Farewell to 2021 from the Accord Steering Group co-chairs
- Strong pipeline forecast shows industry can prepare for future
- New broader outcomes guidance published
- Accord proposes construction vaccination protocols
- New Plymouth District Council wins Beacons Award
- Review of NZS3910 construction contract launched
- Finalists announced for inaugural Construction Accord Beacons Awards
- Building for the Future report released
- Construction Sector Accord supply chain research issued
- Launch of Accord Network
- Accord funding towards better business performance in specialist trades
- ConCOVE – Women's Advisory Group announced
- Diversity in Construction initiative “great news” for women in construction
- Have your say on three MBIE consultations on Building Act reforms
- Critical workers entering New Zealand under Covid-19
- World Safety and Health at Work Day
- Construction Sector Accord partnership builds sustainable workforce
- Construction Sector Accord partnership helps resourcing for suicide prevention
- Accord Steering Group welcomes two new members
- Government and industry collaborating to improve good business practice
- Planning for a post-COVID construction sector
- 2020 Construction Sector Progress Report shows benefits of Accord
- Constructive Forum brings Government and industry together
- Accord welcomes new members to lead transformation delivery
- Construction Sector Accord part of the consortium to lead Construction Centre of Vocational Excellence
- Construction and Infrastructure Workforce Development Council making progress
- More help to keep and employ apprentices
- Accord welcomes new residential construction sector support
- Save the date: Rapid Mobilisation Playbook webinar
- Rapid Mobilisation Playbook to support fast-tracking of construction projects
- Managing Risk Webinar
- New Contract Partnering Agreement launched
- Accord's first Beacon Project: Reducing carbon in construction – Watercare
- NZ Infrastructure Commission publish the Lifting Our Gaze report
- Mates in Construction
- New Construction Procurement Guidelines to promote better practices
- Mental Health in Construction
- Construction contracts under the microscope
- Innovate, Partner, Build – a better way to work with industry
- Accord set to change 'rules of the game' in construction industry
- Launch of the Construction Sector Accord
Accord welcomes new residential construction sector support
The Construction Sector Accord welcomes two initiatives to support the residential construction sector – a $350 million Residential Development Response Fund, and the Progressive Home Ownership Fund.
On this page
The Residential Development Response Fund
The Residential Development Response Fund, announced today by Housing Minister Dr Megan Woods, is being established to help the residential construction sector and to minimise the economic impacts of COVID-19. It will help to progress stalled or at-risk developments by sharing some of the increased COVID-19 related risks by backing developments through Government underwrites.
The Fund comprises $100 million from the COVID-19 Response and Recovery Fund (CRRF) and $250 million of redirected funding from the KiwiBuild appropriation following last year’s reset.
It’s estimated the fund will maintain around 15,000 jobs and the building of around 4,000 new homes, that otherwise might not be built because of barriers to developers securing finance.
The Fund will help cushion the impact of COVID-19 by supporting residential construction jobs, and ensuring the sector is well positioned to accelerate housing delivery as the market recovers.
The Housing Minister expressed her thanks to sector leaders who have engaged through the Construction Sector Accord with officials and Ministers. Minister Woods said that direct feedback has been critical to shaping the government’s response.
The Accord is working with the Ministry of Housing and Urban Development on the design of the Fund to ensure integration of Accord principles and outcomes.
The Progressive Home Ownership Fund
The Progressive Home Ownership Fund, which was announced last month, will help families become home owners by partnering with a housing provider to help them share the cost of a mortgage and address the deposit barrier.
The Fund has a specific aim to address housing affordability issues for three priority groups: Māori, Pacific peoples, and families with children. The Fund will also support the delivery of new supply, as there will be a preference to fund new builds, across parts of New Zealand where housing affordability is most severe.
Accord Transformation Director Dean Kimpton says these initiatives are vital to support the construction sector post the COVID-19 lockdown.
"To ensure a resilient and productive construction sector, we know that support is needed across the board. The residential industry is a vital part of the sector and we are pleased to see support for both those in the sector and potential homeowners."
More information about the Residential Development Response Fund is available on the Beehive website(external link)
More information about the Progressive Home Ownership Fund is available on the HUD website(external link)