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.
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) |
$500,000 |
Two |
$600,000 |
Three or more |
$650,000 |
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:
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.
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):
Region |
Regional asset cap |
Auckland |
$120,000 |
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 |
$100,000 |
Rest of New Zealand |
$80,000 |
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.
They're paid the same no matter which lender you end up with, so you know you won't get pushed into a loan you don't want or can't afford.
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.