KiwiSaver first-home withdrawal
If you have been a member of KiwiSaver for at least 3 years, you may be able to make a withdrawal from your savings to put towards buying your first home.
Eligible members can withdraw their KiwiSaver savings (including tax credits). However at least $1,000 must remain in their KiwiSaver account.
You must intend to live in the property. It cannot be used to buy an investment property.
If you are a member of a complying fund, you may be able to withdraw your savings to help you buy your first home. Not all complying funds permit withdrawals for this purpose, so you will need to discuss this with the trustees of your complying fund.
What do I need to do to apply for a first-home withdrawal?
First-home buyer
If you are a first-home buyer, please contact your KiwiSaver provider or complying fund provider to apply. You do not need to apply for this through Kāinga Ora - Homes and Communities.
Previous home owner
If you are a previous home owner, you will still need to apply through your scheme provider; however Kāinga Ora will initially need to determine whether you are a qualifying person. If you are deemed to be in the same financial position as a first home buyer, the letter produced by Kāinga Ora will need to be forwarded to your KiwiSaver scheme provider, to assist with your application to withdraw your KiwiSaver contributions.
If you are applying for a KiwiSaver first-home withdrawal determination as a previous home owner, do you meet the following:
- You have not previously withdrawn your KiwiSaver funds to buy a home
- You have been a member of KiwiSaver for at least three years
- You have previously owned property, but no longer own any interest/share in property (this does not include ownership of Māori land)
- You do not have realisable assets totalling more than 20% of the house price cap for an existing/older property in the area that you are looking to buy in. Kāinga Ora considers the following to be realisable assets:
- Money in bank accounts (including fixed and term deposits)
- Shares, stocks and bonds
- Investments in banks or financial institutions
- Building society shares
- Any money paid to, or held by, the real estate agent or solicitor as a deposit on the property
- A boat or caravan (if the value is over $5,000)
- Additional vehicles (such as classic motorbikes or cars – not being used as your usual method of transport)
- Other individual assets valued over $5,000
Realisable assets caps
Asset Price Caps are correct as of 15 May 2023 and subject to change.
Note: Regions are defined by city and district council boundaries. Refer to the Stats NZ map for Territorial Authority boundaries(external link). Ensure the layer selected is 'Territorial Authority'.
| Region | House price cap for existing properties ($) | Realisable Asset Cap ($) |
| Far North District | 400,000 | 80,000 |
| Whangārei District | 600,000 | 120,000 |
| Kaipara District | 525,000 | 105,000 |
| Auckland | 875,000 | 175,000 |
| Thames – Coromandel District | 875,000 | 175,000 |
| Hauraki District | 550,000 | 110,000 |
| Matamata-Piako District | 625,000 | 125,000 |
| Hamilton Urban Area (Hamilton City, Waipā District, Waikato District) | 650,000 | 130,000 |
| Ōtorohanga District | 400,000 | 80,000 |
| South Waikato District | 400,000 | 80,000 |
| Waitomo District | 400,000 | 80,000 |
| Taupō District | 575,000 | 115,000 |
| Tauranga Urban Area (Tauranga City, Western Bay of Plenty District) | 800,000 | 160,000 |
| Rotorua District | 525,000 | 105,000 |
| Whakatāne District | 500,000 | 100,000 |
| Kawerau District | 400,000 | 80,000 |
| Ōpōtiki District | 400,000 | 80,000 |
| Gisborne District | 450,000 | 90,000 |
| Wairoa District | 400,000 | 80,000 |
| Napier-Hastings (Napier City, Hastings District) | 625,000 | 125,000 |
| Central Hawke's Bay District | 500,000 | 100,000 |
| New Plymouth District | 525,000 | 105,000 |
| Stratford District | 400,000 | 80,000 |
| South Taranaki District | 400,000 | 80,000 |
| Ruapehu District | 400,000 | 80,000 |
| Whanganui District | 425,000 | 85,000 |
| Rangitikei District | 400,000 | 80,000 |
| Manawatū District | 525,000 | 105,000 |
| Palmerston North City | 575,000 | 115,000 |
| Tararua District | 400,000 | 80,000 |
| Horowhenua District | 525,000 | 105,000 |
| Wairarapa (Masterton District, Carterton District, South Wairarapa District) | 600,000 | 120,000 |
| Wellington Urban Area (Kāpiti Coast District, Upper Hutt City, Porirua City, Lower Hutt City, Wellington City) | 750,000 | 150,000 |
| Nelson-Tasman (Nelson City, Tasman District) | 650,000 | 130,000 |
| Marlborough District | 550,000 | 110,000 |
| Kaikōura District | 700,000 | 140,000 |
| Buller District | 400,000 | 80,000 |
| Grey District | 400,000 | 80,000 |
| Westland District | 400,000 | 80,000 |
| Hurunui District | 425,000 | 85,000 |
| Christchurch Urban Area (Waimakariri District, Christchurch City, Selwyn District) | 575,000 | 115,000 |
| Ashburton District | 400,000 | 80,000 |
| Timaru District | 400,000 | 80,000 |
| Mackenzie District | 500,000 | 100,000 |
| Waimate District | 400,000 | 80,000 |
| Waitaki District | 400,000 | 80,000 |
| Central Otago District | 525,000 | 105,000 |
| Queenstown-Lakes District | 875,000 | 175,000 |
| Dunedin City | 500,000 | 100,000 |
| Clutha District | 400,000 | 80,000 |
| Southland District | 500,000 | 100,000 |
| Gore District | 400,000 | 80,000 |
| Invercargill City | 400,000 | 80,000 |
The withdrawal is administered by the KiwiSaver scheme provider or relevant complying fund manager and if approved the payments of the funds will be paid to your solicitor on or before settlement day.
Kāinga Ora is only involved in the savings withdrawal if you have previously owned a home or land. If you currently own a home, land or have a share in a property, you will not be eligible for this feature (this does not include ownership of Māori land).
Get your application started [PDF, 527 KB]. Email completed application forms and supporting documents to firsthome.withdrawal@kaingaora.govt.nz
You can talk to your employer, check any statements you may have received from your provider, or talk to Inland Revenue on 0800 549 472.
If you are not a member of KiwiSaver and would like to join, either call 0800 549 472 or visit www.ird.govt.nz/kiwisaver(external link) or go to www.sorted.org.nz(external link) for further information on KiwiSaver.
Page updated: 19 September 2022