Budget 2026 invests $69.2 million in the Flexible Fund to deliver between 1800 and 2250 additional social homes over three years starting from 2028/29.
Housing Minister Chris Bishop announced the investment as part of the Government's ongoing social housing programme. The allocation follows previous Budget commitments that funded more than 2700 social homes across 2024 and 2025.
The social housing waitlist has reduced from 25,483 to 19,704 since the Government was formed in late 2023.
The Flexible Fund was established in Budget 2025 to replace what the Government described as a confusing patchwork of housing funds with a more targeted, contestable and needs-based approach. The fund enables the Government to respond to different housing needs in different parts of the country rather than force proposals into rigid funding categories.
The fund supports a wider range of providers, including community housing providers, Māori providers and others, to bring forward proposals that meet local need. Budget 2025's first Flexible Fund investment is delivering between 675 and 770 social homes and affordable rentals.