Reference
Last updated: May 2026
The main forms of help for first home buyers in New Zealand in 2026. The First Home Grant was discontinued in 2024, but the Kainga Ora First Home Loan (a low-deposit option) and KiwiSaver first home withdrawal both continue. This is a summary; always confirm the current criteria and any regional price caps before relying on them.
First Home Buyer Calculator First Home Withdrawal Deposit Savings| Feature | Detail |
|---|---|
| Minimum deposit | 5% (versus the standard 20%) |
| Income cap, single buyer | $95,000 (before tax, prior 12 months) |
| Income cap, two or more buyers | $150,000 combined |
| Property price caps | None nationally since 1 June 2022 (lender criteria still apply); some regional caps may apply, check Kainga Ora |
| Must be owner-occupied | Yes; no investors |
| Lenders | Participating banks including ANZ, ASB, BNZ, Kiwibank, Westpac, SBS and others |
| Requirement | Detail |
|---|---|
| Membership period | At least 3 years in KiwiSaver |
| Minimum left in account | $1,000 must remain |
| What you can withdraw | Your contributions, employer contributions, government contribution and returns (above the $1,000) |
| Property ownership | Generally must not currently own property (exceptions for those in an equivalent position to a first home buyer) |
The First Home Grant, which previously gave up to $5,000 for an existing home or $10,000 for a new build per eligible buyer, was discontinued on 22 May 2024 and is no longer available for new applications. Do not rely on it in your budgeting; the First Home Loan and KiwiSaver withdrawal are the current supports.
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