First Home Grant

2024 - 5 - 22

Government to Scrap First Home Grants: New Focus on Social Housing

first home buyers grant -- first home grant nz First Home Grant - Housing Minister Chris Bishop - social housing - first home buyers grant - first home grant nz

Breaking news: First Home Grants to be scrapped in Budget 2024 with a shift towards investing in social housing.

In a surprising move, the government has confirmed the scrapping of the First Home Grants program in Budget 2024. Housing Minister Chris Bishop announced this decision, emphasizing a new direction towards allocating $140 million for the creation of 1500 new social housing places starting from July next year. The focus seems to be on providing affordable housing options for New Zealanders in need of a warm and dry home. The coalition government's decision marks a significant shift in housing policy, with the government redirecting support away from first-home buyers to address the pressing issue of social housing.

The news of the First Home Grants program coming to an end has sparked mixed reactions among potential first-time buyers. While some are concerned about the implications for their homeownership dreams, others see the investment in social housing as a positive step towards addressing housing inequalities. The move signifies a strategic reallocation of resources to tackle the housing crisis from a different angle, aiming to provide long-term solutions for those struggling to secure a home.

As the government transitions away from supporting first-home buyers, many are left wondering about the future of housing assistance programs. With the focus shifting towards social housing initiatives, the impact on the housing market dynamics remains to be seen. Will this change lead to a more sustainable housing ecosystem for all New Zealanders, or will it create challenges for aspiring homeowners seeking financial support?

In conclusion, the government's decision to scrap the First Home Grants program reflects a prioritization of social housing needs over individual buyer incentives. This shift underscores the growing importance of addressing housing affordability and accessibility for all Kiwis. As the housing landscape evolves, it's essential to monitor the outcomes of this policy change and its effects on both the housing market and aspiring homeowners.

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Image courtesy of "RNZ"

Government confirms First Home Grants to be scrapped (RNZ)

But Housing Minister Chris Bishop has also announced $140 million in new funding for 1500 new social housing places from July next year.

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Image courtesy of "Interest.co.nz"

Government scraps First Home Grant (Interest.co.nz)

Kฤinga Ora will not accept any new applications for the First Home Grant which will be scrapped in Budget 2024.

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Image courtesy of "Otago Daily Times"

Govt ends first-home buyer grants (Otago Daily Times)

Grants for first-home buyers are to be scrapped as the coalition government focuses on putting money into social housing. In a statement this afternoon, ...

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Image courtesy of "Stuff.co.nz"

First home buyers' grant tipped to go (Stuff.co.nz)

Housing Minister Chris Bishop announced on Monday the Government was reviewing all of the housing programmes it runs. ROBERT KITCHIN / THE POST. Introduced at ...

Government invests in 1500 more social homes (Beehive.govt.nz)

The coalition Government is investing in social housing for New Zealanders who are most in need of a warm dry home, Housing Minister Chris Bishop says.

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Image courtesy of "Newshub"

Government announces immediate end of First Home Buyer Grants ... (Newshub)

The Government has announced it will fund 1500 new social housing places but it comes with a $140 million cost and an immediate end to the popular First ...

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Image courtesy of "Newstalk ZB"

Govt set to scrap first-home buyers grant, many Kiwis left with "no ... (Newstalk ZB)

Newshub is reporting the Government plans to redirect the $60 million allocated to help first-home buyers and put the money into social housing. Shaneel Si.

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Image courtesy of "New Zealand Herald"

Government expected to scrap first-home grants in favour of funding ... (New Zealand Herald)

By RNZ RNZ understands government support of first home grants will be scrapped in favour of putting more money toward social housing. The scheme pays out.

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Image courtesy of "New Zealand Herald"

Government scraps home grants but funds more places for CHPs ... (New Zealand Herald)

Housing Minister Chris Bishop has confirmed the Government will scrap the first home grant scheme , a subsidy of up to $10000 that some first home buyers...

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Image courtesy of "OneRoof"

First home grant axed: What the change means for first time buyers (OneRoof)

The loan scheme allows first home buyers who meet the criteria to buy a house with a deposit of only 5%. Before Bishop's announcement today, Alan Leuluai, ...

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Image courtesy of "Otago Daily Times"

Government scraps grants for first-home owners (Otago Daily Times)

In a statement this afternoon, Housing Minister Chris Bishop said $140 million would be allocated in the Budget as new funding for 1500 new social housing ...

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Image courtesy of "Stuff.co.nz"

The First Home Grant is gone, what will that mean for buyers? (Stuff.co.nz)

Chris Bishop says the government will scrap the first home grant and will use the money to instead fund community housing providers. Housing Minister Chris ...

The sudden death of the first home grant (The Spinoff)

The agency was found to be underperforming and 'not financially viable', explains Stewart Sowman-Lund in this extract from The Bulletin.

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Image courtesy of "1 News"

Budget 2024: First Home Grant cut โ€” 1500 social homes in its place (1 News)

The Government will end first home buyers grants โ€” shifting the money to fund about 1500 new social housing places to be provided by external organisations ...

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Image courtesy of "RNZ"

First homes grant scrapped: 'It sets you back' (RNZ)

A prospective first-home buyer says he is gutted the government has scrapped the First Homes Grants scheme, and fears he'll now miss out on the house he was ...

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Image courtesy of "BusinessDesk"

'First-home grant middle-class welfare and scrapping it won't make a ... (BusinessDesk)

Axing grants for first-home buyers will make virtually no difference to their ability to get onto the property ladder, commentators say.

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Image courtesy of "waateanews.com"

First home grant loss landlords' gain (waateanews.com)

Greens' housing spokesperson Teanau Tuiono says instead of scrapping the first home buyers grant scheme, the Government should cut back on its tax cuts for ...

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Image courtesy of "Stuff.co.nz"

First home buyers' grant scrapped (Stuff.co.nz)

Housing Minister Chris Bishop said the Government would take part of the money from the First Home Grant and allocate it to fund 1500 new social housing places ...

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Image courtesy of "RNZ"

First Home Grants scrapped: Hopes for ownership dwindle (RNZ)

Those blindsided by the government's announcement to scrap the First Home Grants scheme say the news comes as a slap in the face.

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