Kick start for Selwyn homeowners
by Anonymous Author
Almost 600 Selwyn homeowners have been helped by the government’s KiwiSaver HomeStart scheme according to local MP Amy Adams.
The scheme offers grants for first home buyers to help with a deposit on a home, and enables first home buyers to access their KiwiSaver funds.
Selwyn MP Amy Adams said the scheme is helping more people in the Selwyn region to buy their own homes, with 575 grants issued in the past two years.
“KiwiSaver HomeStart is the most generous government support scheme for home buyers in over a generation, and is being used more and more by our young people to help with home ownership,” Ms Adams said.
“Here in Selwyn, we have seen the number of HomeStart grants increase significantly since the scheme was launched two years ago.
“In the past year, the scheme has helped 412 people in Selwyn with grants worth a total of $3.1 million.
This represents a sizeable increase from the 163 first home buyers that benefitted in the first year of the scheme through $1.2 million in grants. “The grants can help our young people overcome the most difficult hurdle of pulling together the funds for a deposit, and the scheme is forecast to help 90,000 first home buyers across New Zealand by 2020.”
Ms Adams said home ownership provides stability for families, strength for communities, and security in retirement.