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

 


11,850 HomeStart grants to support Canterbury

11,850 HomeStart grants to support Canterbury


Housing Minister Dr Nick Smith and Associate Housing Minister Paula Bennett today released the Ministry of Business, Innovation and Employment’s estimates of the number of first home buyers in Canterbury who are to benefit from the Government’s new KiwiSaver HomeStart package.

“We are making great progress in Canterbury with the residential rebuild, with a record 380 houses being built a month – an all-time record and more than treble the historic average of 100 homes a month. KiwiSaver HomeStart will complement other initiatives by helping young people get together the deposit and loan for their first home, and encouraging more homes to be built in an affordable range,” Dr Smith says.

The existing KiwiSaver First Home Deposit Subsidy will be replaced with the KiwiSaver HomeStart on 1 April 2015, with widened eligibility and double the support for buying a new home. The house price caps have also been increased. The number of grants will more than treble from 612 per year to 2370 per year.

“Under HomeStart, a couple in Canterbury each earning $50,000 a year will be able to withdraw $35,000 from their KiwiSaver and qualify for a HomeStart grant of $20,000 – giving them $55,000 for a deposit towards a new home with no other savings. They will also be eligible the expanded Welcome Home Loans scheme, which requires only a 10 per cent deposit, meaning they will be able to purchase a home up to a value of $450,000,” Dr Smith says.

“The second chance component of HomeStart will be particularly important for Canterbury where there are people who have lost their equity in their home in the extraordinary circumstances of the earthquakes. A non-first home buyer who may not have been insured, who may have been underinsured or through some other extraordinary circumstances have ended up with no home and little equity will be able to receive a HomeStart grant. To qualify, their equity needs to be less than 20 per cent of the new house price cap of $450,000 – so $90,000.

“HomeStart builds on the Government’s housing reforms that earlier this year introduced big changes for social housing,” Social Development Minister Paula Bennett says.

“Community Housing Providers can now offer income related rents, people can apply for social housing through Work and Income offices, and there’s new financial assistance to help people whose circumstances have improved to move on from social housing into the private rental market.

“We’re committed to growing the housing market so more New Zealanders can access affordable homes.”

“This new HomeStart scheme will help the Government’s efforts to support the rebuild of Canterbury’s housing and will ensure a higher level of home ownership in the new rebuilt city. It is also the next logical step in our ongoing programme of work to improve housing supply and affordability,” Dr Smith says.

“We are already freeing up more land supply, reducing building material costs, reining in infrastructure and compliance costs and investing in sector skills and productivity.”

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On The Last Rites For The TPP

The Trans Pacific Partnership trade deal is one of those litmus issues that has always had more to do with one’s place on the political spectrum than with any imminent reality.

To date, the Greens have opposed (a) a wide range of the leaked content of the TPP (b) the secretive way it has been negotiated and (c) the undemocratic way in which any final document would be ratified. Labour has shared some of those concerns, but while remaining generally supportive of the deal itself.

National has, for its part, been very enthusiastic about the TPP, while still giving assurances about Pharmac being protected... For the TPP’s friends and foes alike though, the end now seems nigh. More>>

 
 

Gordon Campbell: On The Farcical Elevation Of David Seymour

With the election won, it’s time to find jobs for the boy. David Seymour is the Act Party’s latest scrounger to be rewarded by the National Party, and not only with a seat in Parliament. More>>

ALSO:

As Key Mulls Joining ISIS Fighting: McCully Speech To UN Backs Security Council Bid

It is an honour to address you today on behalf of the Prime Minister and Government of New Zealand. Our General Election took place last week - our Prime Minister Rt Hon John Key is engaged in forming a government and that is why he is unable to be here in New York... More>>

ALSO:

Labour: Cunliffe Triggers Party Wide Leadership Contest

David Cunliffe has resigned as Labour Leader, but says he will seek re-election... If there is any contest the election will have to go through a process involving the party membership and union affiliates. More>>

ALSO:

Flyover Appeal: Progress And Certainty, Or Confusion And More Delays?

Lindsay Shelton: The Transport Agency, embarrassed by the rejection of its flyover alongside the Basin Reserve, says it’s appealing because the decision could “constrain progress.” Yet for most clear-sighted Wellingtonians a 300-metre-long concrete structure above Kent and Cambridge Terraces would in no way be seen as progress… More>>

ALSO:

Gordon Campbell: On Cunliffe’s Last Stand

Right now, embattled Labour leader David Cunliffe has three options. None of them are particularly attractive for him personally, or for the Labour Party... More>>

ALSO:

Key Seeking 'New Ideas': Look To Children’s Commissioner On Poverty - Greens

John Key should not reinvent the wheel when it comes to ideas for tackling child poverty, and instead look to the recommendations of the Children’s Commissioner’s Expert Group on Child Poverty, Green Party co-leader Metiria Turei says. More>>

ALSO:

'Safe To Re-Enter' - OIA Docs: Safety Is Absolute Priority At Pike River Mine

“We understand that the time it is taking to complete our evaluation of the risks is frustrating for the family members and we are trying to complete this work as quickly as we can,” Ms Dunphy says. “It is Solid Energy’s responsibility to make this decision and we will do so, once we have all the information required to make a fully-informed decision.” More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
More RSS  RSS
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news