First Home Buyers Grant

2022 - 5 - 19

Post cover — Image courtesy of "Stuff.co.nz"

Budget 2022: Income caps may stop buyers accessing first-home ... (Stuff.co.nz)

Price caps have been lifted and removed but income limits mean it might be hard to get a mortgage anyway, broker says.

Income caps and lender requirements are sufficient to ensure that the First Home Loan is used by buyers who need support for a first home. This recognises the changes in house prices over the past year,” Housing Minister Megan Woods said. Although I fit under the income cap before, the house price cap was so unrealistic for Wellington it seemed like one of those schemes that was just paying lip service to helping first-home buyers without actually being practically useful. “We are increasing the house price caps for the First Home Grant to align with lower quartile market values for new and existing properties. New caps for the First Home Grants will lift to $875,000 in the Auckland region for existing and new build properties. In Queenstown-Lakes, the grant cap will lift to $875,000 for existing properties and $925,000 for new builds.

First Home Buyers' Club: Time will tell how many people will benefit ... (Newstalk ZB)

First Home Buyers' Club Director Lesley Harris told Kate Hawkesby the bank's criteria is key. She says they're stress-testing people at a much higher rate, and ...

Further help in Budget for first-home buyers (Otago Daily Times)

She estimated the changes would provide about 7000 extra grants and 2500 home loans each year. In Dunedin, the previous cap for the grant on existing homes was ...

In the Queenstown-Lakes district, the existing homes cap has increased from $600,000 to $875,000, while the cap for new builds increased from $650,000 to $925,000. For new builds in the city, the cap has increased to $675,000, up from $550,000. In yesterday’s Budget, Housing Minister Dr Megan Woods announced the house price caps for the First Home Grants would be increasing in many parts of the country.

The new First Home Grant price caps explained (OneRoof)

Who are the biggest winners from the Budget 2022 changes?, All things property, under OneRoof.

Ardern hurls first home buyers into collapsing New Zealand housing ... (MacroBusiness)

With New Zealand's house prices falling 5% since November, and Westpac tipping a peak-to-trough decline in values of 15%, the Ardern Government's latest ...