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 Judith Collins Charm Offensive

Suddenly, Judith Collins is everyone’s new best friend. It isn’t an election year, but the Corrections/Police Minister is treating 2016 as an opportunity for a political makeover… Feel that the Police don’t attend burglaries often enough, or assiduously enough? She’s the peoples’ champ on that one. More>>

PM's Press Conference: Crime And Diplomacy

The Prime Minister's press conference today was dominated by foreign affairs and an open letter from the PM to the Chinese community on crime. More>>

ACC: Govt Caught In Unethical Cluster Bomb Investments

The ACC Fund admitted that it had $1.4 million invested in cluster munitions and nuclear weapons manufacturer Lockheed Martin. Before responding to the Green Party’s request for information,however, ACC sold its Lockheed investment and updated its ethical investment policy. More>>

ALSO:

Local Governments To Decide: Easter Trading Bill Passes

The union representing working people in the retail industry is condemning the Government for whipping its MPs to pass the controversial Shop Trading Hours Amendment Bill. More>>c

ALSO:

Departure Speech: Governor-General’s State Farewell Luncheon

"...Unfortunately I was unable to get to the Antarctic, the Chatham Islands and the Kermadecs. A dicky heart thwarted our travel to the Antarctic; and even though I volunteered to parachute into the Kermadecs to join the Young Blake expedition, time, commitments and officials frustrated my plans to visit the Kermadecs and Chathams." More>>

ALSO:

New Research: Most Homeless People Working Or Studying

“The cost of housing has been rising without corresponding increases in income, whilst the number of state houses per capita has been in decline. Many low-income people are missing out on housing, whether we recognise them as ‘homeless’ or not. More>>

ALSO:

Post-Traynor: New Offender Info Sharing Plan

“This Bill delivers on that step-change by moving away from name-based records held by individual agencies to a shared, anchor identity based on unalterable information, such as fingerprints and facial recognition. It also gives agencies access to the drivers’ licence photo database and birth, death and marriages information." More>>

  • NZ Law Foundation - New $2M fund for research on information challenges
  • Littoral: New Ship To Deliver Enhanced Naval Capability

    Defence Minister Gerry Brownlee says the Government has approved a Ministry of Defence and New Zealand Defence Force recommendation to request tenders for a new naval ship to support littoral operations. More>>

    July:

    After King's Labour Snub: Māori Party And Kiingitanga To Work Together

    Māori Party Co-leaders Te Ururoa Flavell and Marama Fox met with Kiingitanga representatives in Wellington yesterday to discuss working together on key issues for the betterment of Māori. More>>

    ALSO:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Parliament
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news