Ministry of Housing and Urban Development

Budget 2025 Flexible Fund Opportunity

The Government established a new flexible fund to combine housing investment into a single contestable fund to better target needs in place and deliver the right type of homes. Through Budget 2025, the flexible fund received funding to deliver at least 675-770 social homes and affordable rentals from 1 July 2027.

In November 2025, the Ministry released the Investment Plan 2025, setting out a clearer, more targeted approach to housing investment for the Budget 2025 flexible fund. This is guided by a single investment objective – to enable people in high housing need to access stable and secure housing.

The Investment Plan 2025 outlines the Ministry’s investment approach and the objectives, as well as key details that will support applicants preparing for the flexible fund application process. This includes the flexible fund objectives, investment locations, funding allocation strategy, purchasing intentions for each location, housing solutions and funding models.

The information document being released provides the following new information about the Budget 2025 flexible fund application process that applicants need to know before applying.

We are sharing this information early so potential respondents have time to prepare ahead of applications opening on 27 February 2026. Further information, including application forms, will be provided at that time.

If you’re interested in this application opportunity, believe you can contribute to achieving the flexible fund objectives and want to ‘get involved’, then read through this document and the Investment Plan.

If you have any questions about this document or the application process, email us at investment@hud.govt.nz. There will be further opportunity to ask questions once the application documents have been released.