The New Zealand government’s suite of first home buyer support has changed significantly since 2024. If you’ve seen articles mentioning the First Home Grant — a cash grant of up to $10,000 — it no longer exists. The scheme closed in May 2024, and no new applications are accepted.
What remains is genuinely useful. Here’s a clear-eyed look at what first home buyer assistance is actually available in 2026.
What Closed: The First Home Grant (Kāinga Ora)
The Kāinga Ora First Home Grant provided:
- Up to $5,000 for an existing property (or $10,000 for a new build), per eligible buyer
- Up to $10,000 for two buyers (or $20,000 for a new build)
It closed on 22 May 2024. No new applications can be submitted. Buyers who applied before the closure and were approved can still receive their payment, but for everyone starting the home-buying journey now, it is not available.
What Remains: Active Government Support in 2026
1. First Home Loan (Kāinga Ora)
The First Home Loan is alive, active, and arguably the most valuable piece of support still available.
It allows eligible buyers to purchase a home with as little as 5% deposit — compared to the standard 20% requirement — without paying the interest rate premium that normally comes with a high LVR mortgage.
How it works: Kāinga Ora underwrites (guarantees) your mortgage with a participating lender. The lender is protected against the additional risk, so they lend at standard rates.
Eligibility (2026):
| Criterion | Requirement |
|---|---|
| Income (single buyer) | ≤ $95,000 gross per year |
| Income (two buyers) | ≤ $150,000 gross combined per year |
| Deposit | At least 5% of purchase price |
| Property ownership | Must not currently own property |
| Property price cap | Varies by region (set by Kāinga Ora) |
| Intended use | Must live in the property |
House price caps (indicative, 2026):
| Region | Existing property | New build |
|---|---|---|
| Auckland | $875,000 | $925,000 |
| Wellington | $750,000 | $800,000 |
| Christchurch | $650,000 | $700,000 |
| Hamilton / Tauranga | $650,000 | $700,000 |
| Other NZ | $600,000 | $650,000 |
Check kaingaora.govt.nz for the current caps — they are updated periodically.
Participating lenders include: ANZ, ASB, BNZ, Westpac, Kiwibank, Co-operative Bank, and several non-bank lenders.
Applying: You apply through a participating lender or a mortgage broker. The lender assesses your application and submits it to Kāinga Ora for guarantee approval. This runs alongside your regular mortgage application.
See our full First Home Loan guide for details.
2. KiwiSaver First Home Withdrawal
If you’ve been a KiwiSaver member for at least 3 years, you can withdraw most of your KiwiSaver balance to put towards your first home deposit. This is not a grant — it’s your own money — but for many buyers, it represents tens of thousands of dollars that wouldn’t otherwise be accessible.
What you can withdraw:
- Your contributions
- Your employer contributions
- Investment returns
- The government Member Tax Credit (MTC) — with one exception: MTCs paid before June 2015 must be returned to IRD
You must leave at least $1,000 in your account to keep it active.
Key rules:
- You must be buying your first home (or meet Kāinga Ora’s second-chance criteria)
- You must intend to live in the property — not available for investment properties
- The property must be within Kāinga Ora’s regional price caps
On an average KiwiSaver balance of $50,000 after several years of membership, you could withdraw $49,000. Combined with a 5% deposit from savings and the First Home Loan, this can be the difference that makes a purchase possible.
For the complete guide, see Using KiwiSaver for Your First Home.
3. Kāinga Ora Shared Ownership (Progressive Home Ownership)
Kāinga Ora offers shared ownership or rent-to-buy pathways through community housing providers for buyers who cannot access mainstream lending. This is targeted at lower-income households and is not widely available — eligibility and availability are managed through approved providers.
This is a small programme relative to demand and is not a mainstream first home buyer option for most readers of this guide.
What Doesn’t Exist in NZ (Common Misconceptions)
Buyers from overseas or who have done research on other countries sometimes ask about:
- Stamp duty concessions — NZ has no stamp duty
- First home buyer FHSS scheme — this is Australia’s scheme; NZ has no equivalent
- Direct cash grants — the only cash grant (First Home Grant) closed in 2024
- Help to Buy — a UK scheme; no NZ equivalent
- First home super saver — again, Australia-specific
New Zealand’s approach has always been targeted and means-tested, not broad-based grants. The combination of the First Home Loan and KiwiSaver withdrawal remains the most impactful support available.
Combining the Support
Here’s how the remaining assistance can stack:
Example: Two buyers, combined income $140,000, buying in Hamilton at $620,000
| Source | Amount |
|---|---|
| Combined KiwiSaver withdrawals | $60,000 |
| Personal savings | $12,000 |
| Total deposit (5% via First Home Loan) | $31,000 minimum required |
| Shortfall from savings | — |
| Result | Eligible for First Home Loan with 12% deposit |
In this example, the KiwiSaver withdrawals alone exceed the 5% First Home Loan minimum, making purchase possible without the First Home Grant.
Should You Wait for New Grants?
There is no indication the New Zealand government intends to reinstate a broad first home grant scheme. The focus has shifted to increasing housing supply and maintaining the First Home Loan as the primary demand-side support.
Waiting for a grant that may not come typically costs more in rent than any grant would provide. If the First Home Loan and KiwiSaver withdrawal put you in a position to buy, the numbers usually favour acting over waiting.