13 Aug 2018

Online pre-qualification opens for KiwiBuild homes

4:55 pm on 13 August 2018

Online pre-qualification has opened for first homebuyers and second-chancers in the market for a KiwiBuild home.

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Those interested in buying a KiwiBuild home can apply online from today. Photo: 123RF

From today, those interested in buying a KiwiBuild home can apply online to find out if they are eligible to enter the ballot.

The Ministry of Business, Innovation and Employment said there was no rush to apply and the best time to look into pre-qualification was when a development came up in an area that appealed to the applicant.

KiwiBuild is the government's affordable home scheme that aims to deliver 1000 homes in the first year, another 5000 by June 2020 and 10,000 in 2021.

Applicants must have an income of less than $120,000 for a single applicant or no more than $180,000 for a couple.

"The online portal is now live and that represents an important milestone for the KiwiBuild programme," said head of KiwiBuild Stephen Barclay.

"It's the first opportunity for New Zealanders to have a look at the pre-qualification system," Mr Barclay said.

"There is no rush to pre-qualify for a KiwiBuild home. My advice is to familiarise yourself with the system, get a better understanding of the information you'll need to provide us with, and obtain some financial advice as well."

Housing Minister Phil Twyford said the opening of the pre-qualification process was good news for New Zealanders who were locked out of the housing market.

The first ballot will open next month for a limited number of KiwiBuild homes in Papakura, Auckland. Kiwis will have more than six weeks to pre-qualify and enter the ballot before it is drawn in October.

"KiwiBuild offers real hope for hard-working Kiwis who had given up ever owning their own home," Mr Twyford said.

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