Above: Housies co-founders James Jordan, Ricky Jack and Paul Sadler.
Auckland entrepreneur Ricky Jack has launched a new investment platform, Housies, to make property ownership accessible to all Kiwis.
The platform will allow investors to buy shares in homes, with the investors to earn returns from rental income and long-term capital growth, without needing a hefty deposit or mortgage.
Jack founded the business due to his own personal struggles trying to buy a home.
“I literally had the idea while I was in the shower,” says Jack.
“It felt impossible to buy a home on a single income, so I was thinking about investing some money in a friend’s property. I thought there should be an easier way to do it, and that was the genesis of Housies.”
A fresh approach
Jack’s shower idea took place three and a half years ago. He’s since partnered with co-founders James Jordan and Paul Sadler, who bring a mix of experience across property and IT.
“We believe every New Zealander should have the opportunity to participate in property ownership,” says Jordan.
“I’ve got grandchildren and I’m worried about how they’re going to afford a home. This tool is opening the door to a more flexible way to enter the property market.”
The launch comes at a time when traditional pathways to homeownership in New Zealand are increasingly difficult, especially for younger generations and single-income earners.
“Median house prices are now over $900,000 nationwide, and over $1.2m in Auckland,” says Jordan.
“Unfortunately the traditional deposit-plus-mortgage pathway is out of reach for many so we’ve built Housies to give New Zealanders another option.”
A model like no other
Jordan adds that part of what makes Housies unique is the fact that investors will live in the property, rather than it being rented out.
“An investor who owns at least 2% of the home will live in it and they will pay a 4% occupation licence fee on the portion they don’t own. Our model means a homeowner is in the property, and that ensures the property is cared for and looked after.
“There is no model like this in the world. Housies is an all encompassing solution to get more Kiwis into homes, while others are able to invest to create equity for their future. This is levelling the playing field and removing unnecessary barriers for those priced out of traditional home ownership pathways.”
Make home ownership accessible
Investment starts at just $100, with investors able to monitor their portfolios through a personalised dashboard, receive regular updates and rental income, and buy or sell shares through the platform at any time.
“This is about putting the power of property back in the hands of everyday Kiwis,” says Jordan.
“We’re effectively banding people together to buy a property, allowing them to buy a slice of a house and grow from there. As well as being a great option for those entering the market, we know it will also appeal to people looking to diversify their investments.”
He adds that although similar models are succeeding overseas, previous attempts to bring it to New Zealand have struggled.
“What sets Housies apart is our model and our team. We’ve built a robust platform and assembled a team which truly understands the market.”
Only a week after launch, the website has attracted 4,000 sign-ups and secured 250 investors.
“Now is the right time for Housies,” says Jordan. “We’re excited to help make home ownership accessible to all New Zealanders.”
Housies is launching with seven brand new Auckland properties open for investment, with the platform planning to expand to other main centres.
