HomeStart caps lifted to boost home ownership

Kaikoura news
Monday, August 1, 2016

The Government has made important changes to its KiwiSaver Homestart scheme as part of its comprehensive plan to address housing issues, local MP Stuart Smith says.

“We want to give all New Zealanders a helping hand to be able to attain the dream to owning their own home, giving families greater security and building stronger communities,” Mr Smith says.

“That’s why we launched our KiwiSaver HomeStart package in April last year. Under the scheme every region of New Zealand is getting extra support for their first home buyers.

“In the scheme’s first year, 207 buyers in Marlborough were helped into their first home, with grants worth $893,000.

“Today we increased the income and house price caps of the scheme to ensure it meets its objectives of helping New Zealanders buy their first home.

“The income caps increased from $80,000 to $85,000 for a single person and from $120,000 to $130,000 for a couple.

“The house price cap in our region has increased by $50,000 to $400,000 for an existing house and $450,000 for a new home.

“We are deliberately increasing the cap for new homes by an additional $50,000 to help drive growth in new residential building.”