Labour wants to help state tenants to get a foot on the property ladder.

It's proposing a rent-to-buy scheme, with Kainga Ora putting aside $100 rent a week, working up to a deposit.

The party would also lift the income cap for five percent deposits, to $300,000, making more buyers eligible.

Labour Housing spokesperson Kieran McAnulty says getting these renters out of the 'poverty trap' will benefit the whole country.

"The announcement today to expand the 5 percent deposit and also have a scheme to actually get Kainga Ora tenants out of state housing, out of the poverty trap and into home ownership, I think is something that will benefit the whole country." 

LISTEN ABOVE

Labour wants to help state tenants to get a foot on the property ladder.
It's proposing a rent-to-buy scheme, with Kainga Ora putting aside $100 rent a week, working up to a deposit.
The party would also lift the income cap for five percent deposits, to $300,000, making more buyers eligible.
Labour Housing spokesperson Kieran McAnulty says getting these renters out of the 'poverty trap' will benefit the whole country.
"The announcement today to expand the 5 percent deposit and also have a scheme to actually get Kainga Ora tenants out of state housing, out of the poverty trap and into home ownership, I think is something that will benefit the whole country."&nbsp;
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Kieran McAnulty: Labour Housing Spokesperson on the party's rent-to-buy scheme for state housing tenants

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/557df1af-804d-48ee-b7d0-b4f0004da3df/transcript