Changes announced for KiwiBuild programme
20 July 2022
Minister of Housing, Hon. Dr Megan Woods, has announced changes to the KiwiBuild programme.
The KiwiBuild price caps have increased to reflect the current housing market and encourage the delivery of more KiwiBuild homes for purchase.
Changes to the eligibility criteria include increasing the income cap for multiple buyers, from $180,000 to $200,000, and introducing a new income cap category for individual buyers with dependents.
Kāinga Ora – Homes and Communities administers the KiwiBuild underwrite programme on behalf of the Government. It involves the Government underwriting the sale of homes in new residential developments, to facilitate the delivery of affordable homes. In return, participating developers agree to sell the underwritten homes at or below the KiwiBuild price caps. The underwritten homes must be offered, in the first instance, to eligible KiwiBuild buyers.
Kāinga Ora General Manager Commercial, Caroline McDowall, says the announcement supports Kāinga Ora to continue partnering with developers to increase the delivery of KiwiBuild homes for first home buyers.
“We expect the changes could lead to more KiwiBuild partnership opportunities with developers, particularly in regions outside of Auckland.
“Today’s announcement also opens the programme up to a new cohort of potential KiwiBuild applicants, which means we can provide more individuals and whānau with the opportunity to achieve home ownership.”
As at May 2022, more than 1,300 KiwiBuild homes have been built, with more than 1,200 under construction across multiple developments.
People interested in purchasing a KiwiBuild home are encouraged to visit the KiwiBuild website(external link), which has further information on eligibility and the application process.
Changes to the KiwiBuild price caps
Price caps are used to set the maximum price that KiwiBuild homes can be sold for and differ by size and location.
- The Government has increased the KiwiBuild price caps to reflect the current housing market and encourage the construction of more KiwiBuild homes for purchase. View the new price caps(external link).
- KiwiBuild price caps are set for standard one, two and three-bedroom homes. The Government will consider approving developer proposals that include the delivery of the following types of KiwiBuild homes above the price caps:
- Four or more bedrooms
- Accessible/universally designed
These amendments are intended to encourage the delivery of KiwiBuild homes that better cater to larger and potentially intergenerational families, and those with accessibility needs.
Changes to the eligibility criteria
- The income cap for multiple buyers has increased from $180,000 to $200,000.
- A new income cap category for ‘individual buyers with dependents’ has been introduced, with an income cap of $150,000.
What other support is available for first home buyers?
Kāinga Ora administers a range of home ownership products on behalf of the Government, which provide support for people looking to purchase their first home.
This includes First Home Grant, First Home Loan, and the shared ownership scheme First Home Partner.
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Page updated: 20 July 2022