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.
But Housing Minister Chris Bishop has also announced $140 million in new funding for 1500 new social housing places from July next year.
Kฤinga Ora will not accept any new applications for the First Home Grant which will be scrapped in Budget 2024.
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, ...
Housing Minister Chris Bishop announced on Monday the Government was reviewing all of the housing programmes it runs. ROBERT KITCHIN / THE POST. Introduced at ...
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.
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 ...
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.
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.
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...
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, ...
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 ...
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 agency was found to be underperforming and 'not financially viable', explains Stewart Sowman-Lund in this extract from The Bulletin.
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 ...
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 ...
Axing grants for first-home buyers will make virtually no difference to their ability to get onto the property ladder, commentators say.
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 ...
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 ...
Those blindsided by the government's announcement to scrap the First Home Grants scheme say the news comes as a slap in the face.