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First-home help welcomed

Monday 25th of August 2014

If it is the Government after the election, National will replace the KiwiSaver first-home deposit subsidy with a KiwiSaver HomeStart Grant, doubling the amount that is available to new buyers who purchase a newly-built house, up to a maximum $10,000.

KiwiSaver withdrawals will also be able to include the member tax credit of $512 a year and Welcome Home Loan price caps have increased to $550,000 in Auckland.

NZPIF executive officer Andrew King said the policy was correctly focusing on helping first-home buyers.

He said a survey by the federation showed owning a home in 2014 cost about the same percentage of income as it did in 1985, because of the lower interest rates.

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