On 18 December 2018, the house price caps for both the HomeStart Grant and Welcome Home Loan were increased to help more eligible buyers purchase a KiwiBuild Home.

The increases apply to all new builds outside of Auckland, Queenstown, Greater Wellington, Greater Christchurch, Hamilton, Greater Tauranga, and Nelson-Tasman.  The price caps have increased from $450,000 to $500,000 so that it now matches the KiwiBuild price caps for those areas.

HomeStart Grant

The HomeStart Grant is a Government grant of up to $10,000 (per person) which eligible buyers can put towards their deposit.  You can find out more, and see whether you might be eligible, here.

Welcome Home Loan

The Welcome Home loan is available from some banks and other lenders, to help buyers who can cover the costs of repaying a mortgage but are having trouble getting a big enough deposit together.  You can find out more here.

For more information about KiwiBuild, visit www.kiwibuild.govt.nz.

Laurie Pallett
Senior Registered Legal Executive