First Home Grant
Up to $10,000 (existing) or $20,000 (new build) — a non-repayable government grant. Check eligibility, income caps, and house price limits.
KiwiSaver First Home Withdrawal
How to withdraw your KiwiSaver for a first home. 3-year rule, minimum contributions, and step-by-step process explained.
First Home Partner
Kāinga Ora's shared equity scheme — the government buys up to 25% of your home. No interest, no rent on their share.
NZ Home Loans Guide
Fixed vs floating rates, major bank comparison, mortgage brokers, and how to choose the right loan structure.
Saving a Deposit
LVR rules explained, low deposit options at 5-10%, and practical saving strategies for NZ first home buyers.
NZ Property Buying Process
Auction, negotiation, conditional offers, due diligence, and settlement — the complete step-by-step journey.
Stamp Duty in NZ
NZ does NOT have stamp duty. But there are other costs — solicitors, reports, insurance — explained in full.
Brightline Test
The 2-year (and 10-year) property tax rule explained. When it applies, exemptions, and how it affects first home buyers.
10 Mistakes First Home Buyers Make
NZ-specific pitfalls: pre-approval, auctions, builder reports, KiwiSaver rules — avoid costly errors.
City Comparison
Auckland vs Wellington vs Christchurch vs Tauranga — compare prices, deposits, and where to buy in NZ.
First Home Grant Cancelled
The grant closed on 22 May 2024. What replaced it, why a 5% First Home Loan is worth more than the old $20,000, and the LVR changes that followed.
First Home Partner Buy-Back
The scheme is fully subscribed and takes no new applications. How the equity buy-back is priced at market value, what happens on sale, and what to use instead.
How Much Deposit in 2026
Dollar figures by scenario and city: 20% standard, 10–15% with LVR headroom, 5% via the First Home Loan — plus the income gate that caps borrowing.
LVR Rules & Pre-Approval
The 2026 LVR and DTI settings, the 25% above-80% allowance from December 2025, and what banks check before they will confirm your borrowing.
KiwiSaver Withdrawal Process
Step-by-step through the paperwork: what you can and cannot withdraw, the $1,000 minimum balance, the documents required, and realistic timing to settlement.
🇳🇿 More New Zealand Resources
ACC Guide New Zealand · Auckland Living Guide · Christchurch Living · IRD Tax Guide NZ · KiwiSaver Guide · Māori Culture Guide · Moving to New Zealand
2026 Market Snapshot
New Zealand's housing market has been broadly flat to gently rising through 2025 and into 2026. According to REINZ data, the national median house price was around $787,000 in December 2025 and roughly $770,000 by mid-2026, up less than 1% year-on-year. Auckland remains the only region consistently above the $1 million median, while the national House Price Index sits about 15% below its 2021 peak.
Regional differences are significant. Canterbury has been one of the strongest markets, with a median around $710,000–$720,000, while the West Coast recorded some of the fastest growth off a low base. Prices vary considerably by region, so buyers should look at their target suburb rather than the national headline figure.
What Changed for First-Home Buyers in 2025–2026
Several policy changes in the last two years directly affect first-home buyers. The Kāinga Ora First Home Grant was discontinued on 22 May 2024 — no new applications are accepted, although applications received before that date were still processed. The KiwiSaver government contribution was halved from 1 July 2025: it now matches 25 cents per dollar up to a maximum of $260.72 a year, down from $521.43.
The brightline test was also cut back to two years for properties acquired from 1 July 2024, and the default KiwiSaver contribution rate rises from 3% to 3.5% on 1 April 2026. None of these changes remove the core supports — KiwiSaver first-home withdrawal, the First Home Partner shared-equity scheme, and Kāinga Ora's First Home Loan with a 5% deposit — but they change how you should plan your finances.
Your 2026 First-Home Toolkit
- KiwiSaver first-home withdrawal: available after 3 years of membership; you can withdraw most of your balance (excluding government contributions) for your first home.
- First Home Partner: Kāinga Ora co-invests an equity share in your first home, reducing the mortgage you need.
- First Home Loan: a low-deposit loan with a 5% deposit for eligible buyers, with income caps of $95,000 (single) or $150,000 (two or more buyers).
- Bank pre-approval: essential before house-hunting; most banks also apply RBNZ debt-to-income speed limits, so your borrowing is capped relative to income.
- Government contribution: contribute at least $1,042.86 a year to your KiwiSaver to earn the full $260.72 government contribution each contribution year.
Where to Start
Start by checking your KiwiSaver eligibility (the three-year rule), getting a pre-approval from a bank or through a mortgage broker, and using Kāinga Ora's online tools to see which schemes you qualify for. Then build a realistic budget that includes deposit, legal fees, reports, insurance and moving costs.
The pages in this guide walk you through each step in order — from saving a deposit and understanding KiwiSaver, to the buying process, taxes, and the most common mistakes. Prices, caps and scheme rules change regularly, so always confirm the latest figures on the official IRD and Kāinga Ora websites before making decisions.
What a First Home Buyer Qualifies For in 2026
Government support has changed enough in the last two years that most buyers are working from out-of-date assumptions. Here is the current position of each scheme:
| Support | Status | What it does |
|---|---|---|
| First Home Loan (Kāinga Ora) | Open | Cuts the deposit from 20% to 5%. Income caps $95,000 single (no dependants) or $150,000 for two or more buyers; regional price caps apply. |
| KiwiSaver first-home withdrawal | Open | After three years of membership you can withdraw your own and your employer's contributions (not the government contribution) to fund a deposit. No upper cap. |
| First Home Grant | Closed 22 May 2024 | Paid $10,000 solo or up to $20,000 for a couple on a new build. No longer accepts applications. |
| First Home Partner (shared equity) | Fully subscribed | Kāinga Ora co-purchased an equity share. Now assisting existing customers only — no new applications. |
Three Policy Dates That Changed the Maths
- 22 May 2024: the Kāinga Ora First Home Grant was discontinued. Anyone still budgeting for a $10,000–$20,000 grant is working from a plan that no longer exists.
- 1 July 2025: the KiwiSaver government contribution was halved — it now matches 25 cents per dollar up to $260.72 a year, down from $521.43. You need to contribute $1,042.86 a year to earn the full amount.
Your First 30 Days
If you are starting from scratch, the sequence matters more than the effort:
- Days 1–3: check your KiwiSaver membership start date (you need three years), your current balance, and your contribution rate. Set the rate at whatever you can genuinely sustain.
- Days 4–10: get a pre-approval from a bank or, better, a mortgage broker who can compare several. This is free in most cases and tells you your real price bracket.
- Days 11–20: open a separate high-interest savings account for the deposit and automate a transfer on payday. Lenders look for a consistent savings pattern.