Moving into a new housing development may soon be less appealing for homeowners.

Under new Government plans to speed up infrastructure needed to get houses built, those who buy the homes will pay for it long term via targeted rates and volumetric charges.

The good news for existing residents is they won't get stung the cost for the infrastructure required to get the homes up and running.

In a joint announcement on Sunday, Finance Minister Steven Joyce and Local Government Minister Anne Tolley unveiled plans to co-invest up to $600 million alongside local councils and private investors in network infrastructure for big new housing developments.

Crown Fibre Holdings, the company responsible for building the ultra-fast broadband network, will be renamed Crown Infrastructure Partners and repurposed to attract private investment in roading and water infrastructure to open up large tracts of land for development, Joyce said.

"This new model is another way in which we are helping councils in our fastest growing cities to open up more land supply so more Kiwis can achieve the goal of home ownership," he said.

The innovative new funding method will be made available to cash-strapped councils struggling to fund new infrastructure from their own balance sheets, Tolley said.

"Crown Infrastructure Partners will set up special purpose companies to build and own new trunk infrastructure for housing developments in return for dedicated long term revenue streams from councils through targeted rates and volumetric charging for use of the infrastructure by new residents," she said.

One project being assessed by the company is Wainui in north Auckland, which Auckland Council has submitted as requiring investment outside its balance sheet.

Existing infrastructure can only support construction of 2000 homes.

It is estimated water and roading investment of $201 million could increase capacity to service another 5500 houses.

Investment in water of $52m at Wainui would see a new reservoir ($15m), pump station ($10m), sewer and pump station ($25m) and stormwater ($2m).

Arterial transport investment of $149m includes a Wainui arterial road ($60m) and a bridge over State Highway 1 ($89m) for the Curley Ave extension to link Silverdale with Milldale.

Albany Ward councillor John Watson welcomed the "belated recognition" that additional infrastructure has to be in place to cope with the amount of growth in North Auckland.

He and fellow councillor Wayne Walker are hopeful there will be wider benefits to the roading network in the area.

"The $89m in particular for the Curley Ave bridge will help traffic flow in and around Silverdale.

"This will hopefully help take some traffic off Hibiscus Coast Highway and provide an alternative route into the the back of Silverdale."

Auckland mayor Phil Goff also welcomed the new funding model.

"Auckland is growing by 45,000 new residents a year and requires unprecedented levels of infrastructure growth to keep up with demand."

A second initial investment of $387 million on transport and water infrastructure in South Auckland will enable the construction of 17,800 dwellings in Drury South and West, Paerata and Pukekohe.