KiwiBuild eligibility: Couples can earn up to $180,000by RNZ
Couples earning up to $180,000 will be able to buy KiwiBuild homes, the government has announced.
To be eligible, buyers must be purchasing their first home, or be "second chancers" - those people who haven't yet had an opportunity to own their own home or who no longer own one.
They must be New Zealand citizens, permanent residents or those who ordinarily reside in New Zealand, and intend to own and live in the house for at least three years.
The income caps are $120,000 for sole purchasers and $180,000 for couples.
Mr Twyford said people earning that level of income had been struggling to buy in high demand areas like Auckland and Queenstown, whereas 10 years ago they would have been able to afford to.
He said people in jobs such as teaching, nursing and the police, whose salaries wouldn't get them into the housing market, might be able to afford a Kiwibuild home.
Cabinet signed off on the eligibility criteria on Monday.
KiwiBuild houses in Auckland and Queenstown will have a maximum price of $650,000 for a three-bedroom home, $600,000 for a two-bedroom home and $500,000 for one bedroom.
Across the rest of the country, the maximum price will be set at $500,000.
The KiwiBuild policy aims to construct 100,000 affordable homes over the next 10 years. The government's beginning with a target of 1000 houses over the next year and another 9000 by 2021.
From today, aspiring first home-owners will be able to register their interest online.
There will be a ballot system for prospective buyers with those whose names are drawn getting the first opportunity to buy the homes they have registered interest in.
The government has pledged to deliver 1000 KiwiBuild homes in the first year, and reach 5000 homes by June 2020 and 10,000 by June 2021.
This article was originally published by RNZ.
Most of us have heard the five-plus-a-day message for fruit and vegetables. But new research into gut health suggests that advice may need tweaking.Read more
A mother and daughter with irritable bowel syndrome say that diet was the missing ingredient in controlling the condition.Read more
Sri Lanka has temporarily banned social media and messaging apps in the wake of the coordinated Easter Sunday attacks on churches and hotels.Read more
Diana Wichtel reviews SoHo 2’s Cheat and Lightbox’s BBC thriller Trust Me.Read more
We’re living in different places, having fewer kids, living longer and getting older, perhaps lonelier, and the idea of a family has become more fluidRead more
The Springsteen sideman and ‘Sopranos’ star is reviving his own music career.Read more
Would you live with your ex? New Zealanders increasingly live alone or find creative ways to house themselves.Read more