About First Home products

First Home products are:

  • First Home Grant – up to $10,000 to put towards a deposit for eligible first home buyers who have been contributing to KiwiSaver for at least three years
  • First Home Loan – reduces the deposit requirement to 5 per cent for eligible first home buyers

The First Home products sit alongside other initiatives to support first home buyers, including the Progressive Home Ownership Scheme, KiwiBuild programme, and First Home Partner.

There is more information about First Home products, including a decision tool, eligibility criteria and how to apply, on the Kāinga Ora - Homes and Communities website.

Kāinga Ora Home Ownership(external link)

Recent changes to First Home Grants and First Home Loan

The Budget 2022 introduced changes to the First Home products that will help more people into their first home.

These changes include:

  • updating house price caps for the First Home Grant to align with lower quartile estimated values for new and existing properties
  • removing house price caps for the First Home Loan
  • introducing a new income cap category for ‘individual buyers with dependents', with an income cap of $150,000
  • providing the higher new build grant to relocatable homes that have received a Code Compliance Certificate in the last 12 months
  • providing the higher new build grant to members of Progressive Home Ownership rent-to-buy schemes if their home was a new build when they moved in
  • adjusting the KiwiSaver requirements to reduce the threshold amount of regular savings to access the Grant
  • increasing the loan cap to $500,000 for Kāinga Whenua loans.

Changes to the First Home Grant came into effect on 19 May 2022.

Changes to the First Home Loan take effect from June 2022.

First Home Grant House Price Caps

The table shows house price caps for existing and new build properties.

 

Existing Properties

 

New Build Properties

 

Auckland and Northland regions

Previous Cap ($)

New Cap ($)

Previous Cap ($)

New Cap ($)

Far North District

400,000

400,000

500,000

675,000

Whangārei District

400,000

600,000

500,000

800,000

Kaipara District

400,000

525,000

500,000

875,000

Auckland

625,000

875,000

700,000

875,000

 

 

Existing Properties

 

New Build Properties

 

Waikato and Bay of Plenty regions

Previous Cap ($)

New Cap ($)

Previous Cap ($)

New Cap ($)

Matamata-Piako District

400,000

625,000

500,000

625,000

Hamilton Urban Area (Hamilton City, Waipā District, Waikato District)

525,000

650,000

600,000

725,000

Ōtorohanga District

400,000

400,000

500,000

500,000

Thames-Coromandel District

400,000

875,000

500,000

925,000

Hauraki District

400,000

525,000

500,000

525,000

South Waikato District

400,000

400,000

500,000

500,000

Waitomo District

400,000

400,000

500,000

500,000

Taupō District

400,000

575,000

500,000

575,000

Tauranga Urban Area (Tauranga, Western Bay of Plenty District)

525,000

800,000

600,000

875,000

Rotorua District

400,000

525,000

500,000

525,000

Whakatāne District

400,000

500,000

500,000

500,000

Kawerau District

400,000

625,000

500,000

625,000

Ōpōtiki District

400,000

400,000

500,000

500,000

 

 

Existing Properties

 

New Build Properties

 

Hawke’s Bay and Gisborne regions

Previous Cap ($)

New Cap ($)

Previous Cap ($)

New Cap ($)

Gisborne District

400,000

450,000

500,000

500,000

Wairoa District

400,000

400,000

500,000

500,000

Napier-Hastings (Napier City, Hastings District)

525,000

625,000

600,000

825,000

Central Hawke's Bay District

400,000

500,000

500,000

500,000

 

 

Existing Properties

 

New Build Properties

 

Taranaki region

Previous Cap ($)

New Cap ($)

Previous Cap ($)

New Cap ($)

New Plymouth District

400,000

525,000

500,000

675,000

Stratford District

400,000

400,000

500,000

525,000

South Taranaki District

400,000

400,000

500,000

500,000

 

 

Existing Properties

 

New Build Properties

 

Manawatu – Wanganui region

Previous Cap ($)

New Cap ($)

Previous Cap ($)

New Cap ($)

Ruapehu District

400,000

400,000

500,000

500,000

Whanganui District

400,000

425,000

500,000

500,000

Rangitikei District

400,000

400,000

500,000

500,000

Manawatū District

400,000

525,000

500,000

525,000

Palmerston North City

400,000

575,000

500,000

700,000

Tararua District

400,000

400,000

500,000

500,000

Horowhenua District

400,000

525,000

500,000

650,000

 

 

Existing Properties

 

New Build Properties

 

Wellington region

Previous Cap ($)

New Cap ($)

Previous Cap ($)

New Cap ($)

Wairarapa (Masterton District, Carterton District, South Wairarapa District)

400,000

575,000

500,000

800,000

Wellington Urban Area (Kāpiti Coast District, Upper Hutt City, Porirua City, Lower Hutt City, Wellington City)

550,000

750,000

650,000

925,000

 

 

Existing Properties

 

New Build Properties

 

Nelson, Marlborough and West Coast regions

Previous Cap ($)

New Cap ($)

Previous Cap ($)

New Cap ($)

Nelson-Tasman (Nelson City, Tasman District)

525,000

650,000

600,000

875,000

Marlborough District

400,000

550,000

500,000

575,000

Kaikōura District

400,000

700,000

500,000

700,000

Buller District

400,000

400,000

500,000

500,000

Grey District

400,000

400,000

500,000

500,000

Westland District

400,000

400,000

500,000

500,000

 

 

Existing Properties

 

New Build Properties

 

Canterbury region

Previous Cap ($)

New Cap ($)

Previous Cap ($)

New Cap ($)

Hurunui District

400,000

425,000

500,000

500,000

Christchurch Urban Area (Waimakariri District, Christchurch City, Selwyn District)

500,000

550,000

550,000

750,000

Ashburton District

400,000

400,000

500,000

500,000

Timaru District

400,000

400,000

500,000

500,000

Mackenzie District

400,000

500,000

500,000

500,000

Waimate District

400,000

400,000

500,000

500,000

Waitaki District

400,000

400,000

500,000

500,000

 

 

Existing Properties

 

New Build Properties

 

Otago and Southland regions

Previous Cap ($)

New Cap ($)

Previous Cap ($)

New Cap ($)

Central Otago District

400,000

525,000

500,000

800,000

Queenstown-Lakes District

600,000

875,000

650,000

925,000

Dunedin City

425,000

500,000

550,000

675,000

Clutha District

400,000

400,000

500,000

500,000

Southland District

400,000

500,000

500,000

500,000

Gore District

400,000

400,000

500,000

500,000

Invercargill City

400,000

400,000

500,000

500,000