First Home Buyers Grant
What’s Changed and What You Can Do Now
The First Home Grant
The First Home Buyers Grant helped many New Zealanders take their first step onto the property ladder. But as of May 2024, this scheme is no longer available.
While the grant itself has ended, there are still several practical options available for first-home buyers — and the right advice can make a big difference.
In this guide, we’ll explain what’s changed, what support is still available, and how we can help you navigate the process.
What Was the First Home Grant?
The First Home Buyers Grant was a government contribution of up to $5,000 for existing homes or $10,000 for new builds, designed to help first-home buyers boost their deposit.
The scheme ended in May 2024, with the government shifting its focus to other housing initiatives.
Many buyers are still searching for First Home Grant information — and while this particular grant is no longer offered, there are still good ways to access support when buying your first home.
What Are Your Options Now?
Here’s what first-home buyers are using today to help secure a home loan:
First Home Loan
The First Home Loan remains a strong option. It allows eligible buyers to purchase a home with as little as 5% deposit.
First Home Loans are supported by Kāinga Ora and offered through selected banks and lenders. While each bank applies its own criteria, the First Home Loan can make it easier to get approval if you’re struggling to meet standard lending requirements.
KiwiSaver First-Home Withdrawal
This is still one of the best tools available.
You may be able to withdraw most of your KiwiSaver balance (leaving in the required minimum) to use as a deposit on your first home.
KiwiSaver withdrawals can be used alongside First Home Loans and other deposit sources — this is often how first-home buyers here in Christchurch are making their deposits work.
Shared Ownership & Tenant Home Ownership Options
Shared ownership and tenant home ownership schemes are also available through Kāinga Ora and some community housing providers.
These allow buyers to purchase a share of a property, with the option to increase ownership over time.
While these schemes don’t suit everyone, they can provide a pathway to home ownership for those on lower incomes or with smaller deposits.
Buying Your First Home in Christchurch
The Christchurch property market has remained more affordable than some other parts of New Zealand — but navigating it still requires careful planning.
Many first-home buyers we work with are using combinations of:
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KiwiSaver withdrawals
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First Home Loan
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Savings and family gifts
Banks are also adjusting their criteria regularly, so having advice from someone who understands the current lending landscape here in Canterbury is invaluable.
Our Home Loan Process – How a Mortgage Broker Can Help
With the First Home Grant now gone, it’s more important than ever to get the right advice.
At Canterbury Home Loans, we help first-home buyers:
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Understand what options are available
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Work through bank criteria and lending restrictions
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Combine KiwiSaver, First Home Loan, and other deposit sources effectively
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Navigate the application process clearly — no jargon, no surprises
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Choose the lender that offers the best fit for your situation
If you’re just starting your journey — or if you’ve been researching and are unsure what steps to take next — we’d be happy to help.
First Home Buyers Grant – Frequently Asked Questions
Is the First Home Buyers Grant still available?
No — the grant ended in May 2024. However, other options such as the First Home Loan and KiwiSaver withdrawal are still available to support first-home buyers.
What is the First Home Loan?
A loan that allows eligible buyers to purchase a home with as little as 5% deposit. It’s supported by Kāinga Ora and selected banks.
Can I still use my KiwiSaver to buy a first home?
Yes — if you meet eligibility criteria, you can withdraw most of your KiwiSaver balance to use towards your deposit.
Are there other ways to get support when buying a first home?
Yes — shared ownership schemes and tenant home ownership options are available through Kāinga Ora and some housing providers.
How can a mortgage broker help?
We help you understand your options, work with banks, and structure your loan to give you the best chance of success — and we support you through the entire process.
Ready to explore your first-home options?
Even though the First Home Grant has ended, there are still great ways to get into your first home. If you’d like expert advice and a clear path forward, we’d love to help.
Final Thoughts
While the First Home Buyers Grant may no longer be available, there are still valuable ways to make your first home a reality.
With the right advice and guidance, many buyers here in Christchurch are securing loans and stepping onto the property ladder — even in a changing market.
If you’d like to talk through your options, we’d love to help.
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