PHOTO: Young Kiwi homeowner Hamish saved a house deposit over five-to-six years, using $60,000 from KiwiSaver. Photo credit: Getty.
A homeowner in his mid-20s is urging Kiwis desperate to get onto the property ladder to join KiwiSaver – and have a plan.
Property prices have skyrocketed over the past year, boosted by low interest rates, removal of loan-to-value ratio (LVR) restrictions, investors wanting a higher return and existing homeowners trading up.
REINZ December data shows the national median sale price hit $749,000. For most first home buyers, buying at this price would mean stumping up almost $150,000 for a 20 percent deposit.
But having saved a similar amount to buy his first home two years’ ago, young Kiwi homeowner Hamish says people can get there – they just need a plan.
“It’s not just a matter of whether you’re going to have a house or not, it’s about when you’re going to have a house,” Hamish says.
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