Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Regional New Zealand benefits from HomeStart

Regional New Zealand benefits from HomeStart

Housing Minister Dr Nick Smith today released the Ministry of Building, Innovation and Employment’s estimates of the number of first home buyers in provincial New Zealand who are to benefit from the Government’s new KiwiSaver HomeStart package in Palmerston North with local mayor Jono Naylor.

“The Government recognises that home ownership and affordability is not just an issue in our metropolitan cities. We want to give all New Zealanders a helping hand to be able to attain the dream to owning their own home, giving families greater security and building stronger communities,” Dr Smith says.

“Every region of New Zealand will be getting extra support for their first home buyers under our KiwiSaver HomeStart package. The increase is well illustrated in Palmerston North, where last year 224 people received assistance under the KiwiSaver First Home Withdrawal Subsidy. HomeStart more than doubles this to an average of 580 per year, or 2900 over the next five years.”

The HomeStart package comprises three changes. Firstly, the grant is doubled for newly built homes and the house price caps have been increased. Secondly KiwiSavers will be able to withdraw more of their savings for a first home deposit. Thirdly, the eligibility for Welcome Home Loans scheme which enables only a 10 per cent deposit has been expanded.

“Home ownership is higher in provincial New Zealand than in metropolitan cities but there has still been a decline over the past 30 years. This package is targeted at improving home ownership rates across the country and is particularly focused on helping young people pull together a deposit. It is estimated that two thirds of the recipients of the HomeStart grants will be aged between 20 and 35,” Dr Smith says.

“KiwiSaver HomeStart complements our work that is freeing up more land supply, reducing building material costs, reining in infrastructure and compliance costs and investing in sector skills and productivity,” Dr Smith concluded.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Demonising Of Iran

Will New Zealand still be willing to pursue its recent trade overtures to Iran, now that US President Donald Trump has used his speech in Riyadh to single out Iran as the main source of terrorism and instability in the Middle East?

Trump did so only hours after a moderate was re-elected in a landslide in Iran’s elections, a victory that opened up a potential for dialogue that the US has chosen to spurn instead, utterly. More>>

 

Pre-Budget Offers: Green Party’s New Plan Puts Kiwi Families First

The Green Party has a plan to help all Kiwi kids have a great start to life, by giving parents more financial support and more flexibility at work. More>>

ALSO:

Gordon Campbell: On Bill English’s Bizarre New/Old Trade Deal

So, according to the Prime Minister, we all have an obligation to get in behind his zombie TPP deal, because of all the “jobs and income” it will bring in its wake… More>>

ALSO:

Gordon Campbell: On Housing, Exploding Lap-Tops And Jon Taplin

Evidently, only 13,500 of this new build will be state houses/social housing and much of that will be catch-up, since the government will reportedly be demolishing 8,300 state homes over the same period. The other 20,600? About 80% will be sold privately, at the going market rate. More>>

Peter Dunne: Where To Now For Drug Policy?

Recently, the Police, with significant sponsorship from the Ministry of Health, hosted a major Australasian conference on alcohol and drug policy... In my own remarks to the conference I spoke about New Zealand’s National Drug Policy, and where it might head in the future. More>>

ALSO:

Tobacco Sticks: Charges Laid Against Philip Morris

The Ministry of Health has laid charges against tobacco company Philip Morris (New Zealand) Limited relating to the importation and selling of its tobacco sticks known as HEETS. More>>

ALSO:

 
 
 
 

Opening The Election Supporters

 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election