Some 4500 new first-home buyers in Dunedin, 700 in Queenstown
and 2500 in Invercargill will benefit from the new KiwiSaver
HomeStart scheme over the next five years, the Ministry of
Building, Innovation and Employment (MBIE) estimates.
Housing Minister Nick Smith announced the $218 million
housing package on Sunday.
REINZ Otago-Southland spokeswoman Liz Nidd said if the new
policy ''doubles our numbers, obviously we will be smiling''.
That comment comes as the volume of sales for Dunedin in June
was the lowest for a winter month since 1992 - when the
statistics were first collected.
''The market's been seriously hit on volume. But we are
seeing some far more hopeful numbers of properties coming to
market over the last three weeks ... but it has been a long,
cold and hard winter.''
Statistics from MBIE showed Dunedin recorded the highest
KiwiSaver First Home Deposit Subsidy uptake in provincial New
Zealand, with 347, during 2013-14.
That old subsidy was $1000 for each year a person had been
contributing to KiwiSaver, up to a maximum of $5000 for five
years, with couples able to qualify for $10,000 over the same
The new changes include a higher grant for those eligible
under the scheme to buy a new
house of $10,000 per person, or $20,000 per couple.