INDEPENDENT NEWS

REINZ welcomes ASB announcement around lowered deposits

Published: Fri 7 Sep 2018 03:02 PM
REINZ welcomes ASB announcement around lowered deposit requirement for KiwiBuild buyers
The Real Estate Institute of New Zealand (REINZ) has today welcomed the announcement from ASB around the lowered deposit requirement for some KiwiBuild home purchasers.
Bindi Norwell, Chief Executive at REINZ says: “It is positive that ASB is committed to supporting more first home buyers achieve their dream with the announcement that they will pre-approve up to 95% of the KiwiBuild home cost for eligible customers. With home ownership at its lowest point in 60 years, this is a positive step in the direction of helping more people get a foot on the property ladder.
“This lowered threshold increases the number of potential buyers, as the regular 20% deposit would still require a relatively high income to achieve and restricts the buyer pool to those in the upper end of the eligibility criteria.
“REINZ would still like to see a modification to the KiwiBuild regime that would see a percentage of the properties being allocated to lower income earners. This would help ensure that those who really need it the most, for example a single parent working two part time jobs to support their family, will have a higher chance of having their name pulled out of the ballot than a single person earning $120,000,” she concludes.
ENDS

Next in Business, Science, and Tech

Govt raids PGT for $40M top-up to rural broadband roll-out
By: BusinessDesk
Auckland-Chicago named a top 10 ‘most exciting’ new route
By: Air New Zealand
ESR ups its reporting on Meningococcal disease
By: ESR
Game-changing technology for 3D printing tiny structures
By: KiwiNet
PGF to improve regional digital connectivity
By: New Zealand Government
PGF investment in Manawatū-Whanganui
By: New Zealand Government
PGF investment in Advanced Aviation Hub in Whanganui
By: New Zealand Government
PGF investing to expand National Driver Training Centre
By: New Zealand Government
PGF investment to fast track regional freight hub
By: New Zealand Government
$48 million Provincial Growth Fund announcements welcomed
By: Horizons Regional Council
High unemployment drives teen to transform his district
By: Horowhenua District Council
Manawatu-Whanganui PGF spending is just picking winners
By: New Zealand Taxpayers' Union
Meningococcal W – Expert Reaction
By: Science Media Centre
Increased vigilance needed for meningococcal disease
By: Ministry of Health
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media