First-home buyers can buy a stake in Auckland for $500

• Would-be homeowners who cannot yet afford a house of their own are being given a way to get as slice of the action anyway.

A new company, The Ownery, is offering a stake in Auckland houses for people with $500 or more to invest.

Chief executive Paul Jacobs said Aucklanders had an uphill battle to save for a deposit because house values were rising faster than people could save.

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MANDY GODBEHEAR/FAIRFAX NZ