Challenges for first-home buyers are growing as house prices skyrocket upwards - and that’s left the Real Estate Institute (REINZ) calling for the Government to review Home Start grant thresholds. The Home Start grant, which is run through Kainga Ora, gives first-home buyers access to $5000, or $10,000 as a couple, towards their first property. There are also house price caps, which differ depending on the region, in place. According to the Real Estate Institute, the rise in prices means that only 33 per cent of properties in New Zealand are now below the threshold to be eligible for the Home Start grant. Ardern told media the government was exploring making some changes around the Home Start grant requirements, but she didn’t elaborate on what might change.

Source: Stuff November 17, 2020 16:02 UTC