Is KiwiBuild for you?

KiwiBuild is a government-led project with a mission to build affordable and comfortable homes for kiwi first home buyers.

They're focusing on areas around New Zealand where prices are getting higher and home ownership is getting lower. If you're keen to take advantage of the opportunity, we can help.

KiwiBuild house

How much will a KiwiBuild home cost?

Price caps help ensure KiwiBuild homes remain within reach of first time buyers. The price of a KiwiBuild home depends on its size and location, and is set by the developer.

It’s important to remember that 'price cap' means the maximum cost. In many cases, homes are likely to be sold for under the price cap. If you're anywhere in New Zealand other than Auckland or Queenstown, the price cap is $500,000 including GST for a KiwiBuild home.

However, if you’re in pricey Auckland or Queenstown Lake area, the rules are a bit different and a KiwiBuild home cannot exceed $650,000. The criteria for these areas is below:


Number of bedrooms

Price cap (including GST)

One (including studio and one+study)




Three or more


Happy first home buyers

Do you fit the bill for a KiwiBuild home?

The purpose of this whole initiative is to give first home buyers a chance to get a foot onto the first rung of the property ladder. (Goodness knows it's been tough out there). So to get a piece of the pie, there's some strict criteria you need to fulfil to be considered for one of these. You must fit the following description:

  • A first home buyer
  • Permanent resident or citizen of New Zealand
  • Your income must be below $120k for singles, or $180k total for a joint purchase.
  • Intend to live in and remain being the owner of the home for at least 3 years

Although proof of finance isn't required to be eligible, getting pre-approved for a mortgage puts you in a strong position when the time comes to buy. We can help with this.

What about if you’ve owned a home before but don’t any more?

Don't worry, you've been included in this as well. For all you ‘second chancers’, the following asset caps will apply (an asset cap is anything that can be used or sold to put towards a deposit e.g. cars, savings or stuff. KiwiSaver is not counted as an asset):


Regional asset cap



Hamilton City, Tauranga City, Western Bay of Plenty District, Kapiti Coast District, Porirua City, Upper Hutt City, Hutt City, Wellington City, Tasman District, Nelson City, Waimakariri District, Christchurch City, Selwyn District, Queenstown Lakes District


Rest of New Zealand


House target - couch

Why choose Squirrel for your mortgage?

Where does a mortgage broker come into this and why use Squirrel?

Simplify the process

It might seem like a minefield of jargon but it doesn’t have to be. We'll navigate you through it without confusing you with big fancy words.

Advice you can trust

It's a big bad world out there, full of tycoons and suits. We're rooting for you to get into your home and because our expert advisers are on salaries, not commission, the advice you're getting is unbiased and reliable.

Save money

Having the right home loan solution is the easiest money you'll ever make. We'll get you a sharp rate and then structure the repayments in a way that's suited to your life and any future plans.

More banks, more choices

Keen to get the ball rolling? Apply for pre-approval for your home loan