3 août 2016 - Kiwisaver Homestart Scheme - changed

Description:

The income limits and house price caps for the KiwiSaver HomeStart Scheme were increased.
The income limits were increased from $80,000 to $85,000 for a single person and from $120,000 to $130,000 for a couple.
The house price caps for people buying an existing home were increased from:
• $550,000 to $600,000 for Auckland;
• $450,000 to $500,000 for Wellington, Christchurch, Hamilton, Tauranga, Queenstown and Nelson-Tasman; and
• $350,000 to $400,000 for other areas of New Zealand.
For people buying new homes, the house price caps were set an additional $50,000.
The increases to the house price caps reflected the $50,000 increase in the national median house price since the scheme began and the increased cap for new homes was designed to help drive growth in new residential construction.
The increases in the income limits and house price caps were also applied to the Welcome Home Loan Scheme. These loans enabled first-home buyers to buy with a 10 percent deposit and because they were government guaranteed, they were exempt from the loan-to-value ratio (LVR) limits from the Reserve Bank.
The KiwiSaver HomeStart Scheme had been implemented in April 2015 to provide support to first-home buyers. The Scheme provided a grant of up to $10,000 for an existing house and up to $20,000 for a new home as well as access to KiwiSaver funds and the Welcome Home Loan Scheme.

Source: https://www.msd.govt.nz/about-msd-and-our-work/about-msd/history/social-assistance-chronology-programme-history.html

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