Changes to KiwiSaver HomeStart scheme

Wooden toy house, piles of coins

From 1 August 2016 there are a number of changes to the KiwiSaver HomeStart scheme aimed at giving a boost to first home buyers looking to get on the property ladder. These changes include:

  • Increase to income caps from $80,000 to $85,000 for a single person and from $120,000 to $130,000 for a couple.
  • Increase to house price caps for existing houses to $600,000 in Auckland, $500,000 in Wellington, Christchurch, Hamilton, Tauranga, Queenstown and Nelson-Tasman and $400,000 for all other regions.
  • Increase to house price caps for new houses to $650,000 in Auckland, $550,000 in Wellington, Christchurch, Hamilton, Tauranga, Queenstown and Nelson-Tasman and $450,000 for all other regions.

For more information, check out this article.