Single people earning below $120,000 a year and couples earning below $180,000 a year will be able to buy KiwiBuild homes under the eligibility criteria for the scheme, announced today by Housing and Urban Development Minister Phil Twyford.
All eligible potential buyers of the affordable homes being built through the KiwiBuild scheme will have to go into a ballot, so there is an element of luck in who will end up getting the homes.
Other criteria hopeful buyers will have to meet include:
Twyford said single people below the $120,000 threshold and couples below $180,000 income threshold were struggling to buy their own homes, especially in high demand areas like Auckland and Queenstown.
“For instance a couple of teachers may have a combined income of between $150,000 and $170,000.
“For a nurse and a police officer earning upwards of $120,000 and for an engineer living alone on $90,000 – a decade ago these families would have been able to afford a home, but they are now locked out of the market,” he said.
Twyford said the government intended provide 1000 KiwiBuild homes in the scheme’s first year, ramping up to 5000 a year by 2020 and 10,000 by 2021.
“This is the largest state-backed home building programme in generations,” he said.
“I’m proud our Government is helping the next generation of New Zealanders realise the kiwi dream.”
More detailed information is available on the KiwiBuild website www.kiwibuild.govt.nz or on the following Registration Eligibility Criteria document:
KiwiBuild Eligibility Q&A.docx
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