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KiwiBuild: HomeStart Grant and Welcome Home Loan Price Caps Increased Outside Main Centres
On 22 May 2022, the house price caps for both the First Home Grant and First Home Loan were increased to help more eligible buyers purchase a Kiwibuild Home. House price caps set the maximum price for both new and existing homes that are eligible for a First Home Grant.
The increases apply to all new builds outside of Auckland, Queenstown, Greater Wellington, Greater Christchurch, Hamilton, Greater Tauranga, and Nelson-Tasman. These new price caps are set as follows:
|
Region |
Existing/older properties |
New properties |
|
Auckland |
$875,000 |
$875,000 |
|
Central Hawkes Bay, Southland, Mackenzie |
$500,000 |
$500,000 |
|
Central Otago |
$525,000 |
$800,000 |
|
Christchurch Urban Area (Waimakariri District, Christchurch City, Selwyn District |
$550,000 |
$750,000 |
|
Dunedin City |
$500,000 |
$675,000 |
|
Gisborne |
$450,000 |
$500,000 |
|
Hamilton Urban Area (Hamilton City, Waipa District, Waikato District) |
$650,000 |
$725,000 |
|
Hauraki, Manawatū, Rotorua, |
$525,000 |
$525,000 |
|
Horowhenua |
$525,000 |
$650,000 |
|
Kaikōura |
$700,000 |
$700,000 |
|
Kaipara |
$525,000 |
$875,000 |
|
Kawerau, Matamate-Piako, |
$625,000 |
$625,000 |
|
Marlborough |
$550,000 |
$575,000 |
|
Napier-Hastings District |
$625,000 |
$825,000 |
|
Nelson-Tasman (Nelson City, Tasman District) |
$650,000 |
$875,000 |
|
New Plymouth |
$525,000 |
$675,000 |
|
Queenstown-Lakes District |
$875,000 |
$925,000 |
|
Tauranga Urban Area (Tauranga, Western Bay of Plenty District) |
$800,000 |
$875,000 |
|
Taupō |
$575,000 |
$575,000 |
|
Wairarapa |
$575,000 |
$800,000 |
|
Wellington Urban Area (Kāpiti Coast District, Porirua City, Upper Hutt City, Hutt City, Wellington City) |
$750,000 |
$925,000 |
|
Whanganui, Hurunui |
$425,000 |
$500,000 |
|
Rest of New Zealand |
$400,000 |
$500,000 |
First Home Grant
The First Home Grant is a Government grant for up to $10,000 for a new home/land and $5,000 for an existing home which eligible buyers can put towards their deposit. To find out more, and see whether you might be eligible, click here.
First Home Loan
The First Home loan are issued by selected banks and other lenders, and underwritten by Kāinga Ora. This loan is designed to help buyers who can cover the costs of repaying a mortgage but are having trouble getting a big enough deposit together. To find out more, and see whether you might be eligible, click here
For more information about KiwiBuild, visit https://www.kiwibuild.govt.nz/
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