KiwiSaver HomeStart helping more people into home ownership
The Government's KiwiSaver HomeStart scheme is helping more people in the Taupō electorate into home ownership, says MP for Taupō Louise Upston.
The scheme offers grants for first home buyers to help with deposits on a home, and enables first home buyers to access their KiwiSaver funds.
“KiwiSaver HomeStart is the most generous government support scheme for home buyers in over a generation, and is being used more and more by our young people to help with home ownership,” Ms Upston says.
“In Waipa, we have seen a fantastic number of HomeStart grants being taken up since it was launched two years ago.
“In the past two years, the scheme has helped 297 people in the area with a total of $1.3 million in grants. In the first year, 168 first home buyers were assisted with $734,000 in grants. In the past year, 129 first home buyers took advantage of the $573,000 of grants.
“In South Waikato, we have seen the number of HomeStart grants increase significantly. In the past year, the scheme has helped 150 people in South Waikato with $664,000 in grants. This is an increase from the 107 first home buyers that benefited in the first year of the scheme and the $479,000 in grants.
“In the past year, the scheme has helped 155 people in Taupō with $683,000 in grants. This is an increase from the 131 first home buyers that benefited in the first year of the scheme and the $581,000 in grants.
“The grants can help our young people overcome the most difficult hurdle of pulling together the funds for a deposit, and is forecast to help 90,000 first home buyers across New Zealand by 2020.
“Home ownership provides stability for families, strength for communities, and security in retirement.
“We are working hard so more people in our community can achieve the Kiwi dream of owning their own home,” Ms Upston says.