KiwiBuild is a key part of the Government’s plan to improve the rate of homeownership in New Zealand. It works closely with property developers to increase the supply of new homes under development and the speed at which they come to market. Designed for a variety of New Zealanders at different stages in life, a KiwiBuild home can be a great opportunity for a new first home buyer looking to enter the market.
Where will the homes be built?
KiwiBuild homes are being built and are available now in many locations across New Zealand, with new locations announced regularly.
You can learn more about KiwiBuild homes and stay up to date with the latest developments at www.kiwibuild.govt.nz
How much will they cost?
The price of a KiwiBuild home will depend on its size and location, and will generally fall between $500,000 and $650,000. Maximum price caps are used to ensure that KiwiBuild homes remain with reach of more New Zealanders.
Learn more about available home types and KiwiBuild price caps here
Who can buy KiwiBuild homes?
Checking that you’re eligible for KiwiBuild is easy. You must:
- be at least 18 years old
- be a New Zealand Citizen, Permanent Resident, or Resident Visa Holder who is ‘ordinarily resident in New Zealand’
- not currently own a home or other property
- have a household income that is $120,000 or less per year (before tax) for a single buyer; or
- have a household income that is $180,000 or less per year (before tax) for two or more buyers.
You will also need to commit to living in your KiwiBuild home for a minimum period of time before the home can be rented out or sold:
- at least one year for a studio or one-bedroom home; or
- at least three years for a home with two-bedrooms or larger.
Registering For KiwiBuild
If you are interested in buying a KiwiBuild home, you will need to get your eligibility pre-approved as part of the application process.
Learn more about registering with KiwiBuild and getting yourself ready to buy here