The Government has announced changes to the First Home Partner scheme, a shared ownership scheme administered by Kāinga Ora – Homes and Communities. The scheme helps eligible individuals and whānau (extended families) to co-purchase a home together with Kāinga Ora, to help overcome the deposit barrier.

The key changes are:

• Eligible applicants can now purchase existing homes, in addition to new builds. This is intended to provide buyers with a greater choice of homes.

• The household income cap has increased from $130,000 to $150,000. This means that more families will be able to qualify for the scheme.

• The income cap criteria for intergenerational whānau has broadened to include larger whānau. This means that any eligible whānau of at least six people who normally live together can now purchase a home through First Home Partner.

The changes are expected to take effect from Monday, 14 August 2023.

First Home Partner is one of many home ownership products and programmes available through Kāinga Ora. Further details about the changes can be found on the Ministry of Housing and Urban Development website.

Here are some additional details about the changes:

• The increase in the household income cap will make the scheme more accessible to families who are currently priced out of the housing market.

• The broadening of the income cap criteria for intergenerational whānau will help to support more multigenerational families who want to live together.

• The ability to purchase existing homes through the scheme will give buyers more choice and flexibility.

The changes to First Home Partner are a positive step towards making home ownership more attainable for more New Zealanders.