PHOTO: KiwiSaver – SOURCE: KiwiSaver
KiwiSaver is fast becoming an important part of the home buying mix with the number of ANZ KiwiSaver members making a first home withdrawal increasing almost five-fold over the past six years.
ANZ Wealth Managing Director Craig Mulholland said almost 10,000 members (9,876) made a first home withdrawal from their KiwiSaver accounts in the last financial year (year ended Sep 30th) – up from 2164 withdrawals in 2012.
“The overall number of our KiwiSaver members increased during that time but, even so, there has been a big increase in the number of people making a first home withdrawal.
“At the same time, the average amount of money withdrawn by our members for a first home is $20,000. That is double the average withdrawal in 2012.”
For the first eight months of this financial year there were 7320 withdrawals, averaging $22,339.
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