PHOTO: KiwiBuild
Experts have said that KiwiBuild’s reset, which includes a plan to change the government’s entire building programme, should include more generous subsidies for first-home buyers.
In the coming months, the government is expected to deliver a new framework for the troubled construction scheme that was originally meant to deliver 100,000 affordable homes over 10 years. However, the scheme drew criticism over the slow pace of building, poor choices of areas for development, and HomeStart subsidy.
The scheme indicated that people who withdrew their KiwiSaver savings for a first-home deposit can qualify for a subsidy of up to $10,000 if they met house price and income caps. The house price cap in Auckland and Queenstown is $600,000 while that in other main centres is $500,000.
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