Budget 2022 housing: Government increases first home buyer grant caps in response to the market changes

Exciting news in for first home buyers from the Government in last week's 2022 Budget Announcement!

With the removal of the First Home Loan cap and an increase in the caps for the First Home Grant, many more kiwis will be able to take advantage of this initiative buying their first home. 

This exciting news means that the majority of Wolfbrook homes are now under the cap for the First Home Grant. This could mean an additional $10,000 (for a single applicant) or $20,000 (for couples) towards your home deposit*. 

We currently have properties available in Auckland, Wellington and Christchurch, and Tauranga coming soon.

Among the other changes: 

• Introduction of an ‘individual earner with dependents category’ with an income cap of $150,000 ­
• Adjusting the KiwiSaver requirements to reduce the threshold amount of regular savings to access the grant ­
• Allowing relocatable homes that have received a Code of Compliance certificate in the last 12 months to qualify as new properties ­
• Enabling members of Progressive Home Ownership rent-to-buy schemes to access the new build grant

We would love to help you on your first home buying journey. Please contact our team if you have any queries about these changes, or if you would like to know more about any of the properties we have available at the moment.

This information was obtained from NewsHub 

*For eligible KiwiSaver members - for full criteria and eligibility testing, head to the Kainga Ora website.