Helping hand for first home buyers in the Hutt Valley
In the Hutt Valley, 371 people are receiving help to buy their first home through the Government’s new $435 million KiwiSaver HomeStart scheme.
In April the Government doubled support for first home buyers through KiwiSaver HomeStart. Couples can apply for grants of up to $10,000 for a deposit on an existing home, and up to $20,000 for a new-build.
“This is the most generous support for first home buyers in more than a generation. In the Hutt Valley alone there has been $1,468,000 in grants paid,” says Chris Bishop, the National Party List MP based in the Hutt Valley.
“The number of applications approved in Lower Hutt in the Jul-Sep period has increased 13.1%, more than the national average of 11.6%.
“Buying a first home is a huge step and I am pleased to see so many young families in the Hutt are making the most of the support available.
“I would encourage all first-home buyers in the Hutt Valley to check whether they are eligible. Over the next five years, HomeStart is expected to help 90,000 people achieve their dream of home ownership.
“KiwiSaver HomeStart is part of the Government’s wider programme to improve housing supply and affordability. Housing Accords are freeing up more land faster and we have measures in place to constrain building material costs, rein in development contributions and compliance costs and improve productivity in the construction sector.”