House-sharing offer aims to get Aucklanders on property ladder

Wed, 27 Apr 2016

By Fiona Rotherham April 27 (BusinessDesk) - Auckland startup The Ownery Ltd is offering a new way to enter the housing market by buying shares in a company that then buys a house. Co-founders Paul Jacobs and Kurt Settle say they want to offer people the chance to grow their savings into the housing market because many, particularly younger Kiwis, face an uphill battle trying to save for a deposit as the median price in Auckland edges towards $1 million and banks require minimum deposits. The business model is similar to residential eq...

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