First Home Grant NZ: is it still available?
No. New applications for the First Home Grant closed on 22 May 2024, and nothing has replaced it as a cash grant. Help for first-home buyers now comes through the Kāinga Ora First Home Loan, KiwiSaver and the lender rules on deposit size.
What happened to the First Home Grant?
New applications closed on 22 May 2024. RNZ reported that Minister Chris Bishop called the grant an "expensive and inefficient way to support first home buyers", and about $245 million was redirected to social housing.
What replaced the First Home Grant?
Nothing replaced it as a cash grant. The government kept the First Home Loan, which lowers the deposit but is a loan you repay, not money in hand. Some lenders charge a low equity fee or premium. Ask the lender what applies to you. We've found no plan to bring one back.
What help can first-home buyers still get?
- First Home Loan. A 5% minimum deposit for eligible buyers through participating lenders, within the income caps on the Kāinga Ora First Home Loan page. See our First Home Loan page.
- KiwiSaver first-home withdrawal. 50,470 members withdrew for a first home in the year to 30 June 2026, averaging about $45,600, after 3 or more years of membership.
- Lower deposits on new builds. Lenders can accept about 10%. See the 10% new-build deposit.
- Family help. A gift from a relative, or a guarantee. See gifted deposit for a first home.
Are first-home buyers still buying without a grant?
Yes. Cotality reports first-home buyers made up a record 28.3% of purchases in Q2 2026, and 50.5% of first-home loans approved in August 2026 had a deposit under 20%. A small deposit tends to cost more, though, through a yearly low equity premium or a one-off First Home Loan insurance premium.
What does the deposit gap look like without a grant?
How far the average KiwiSaver withdrawal of $45,600 goes on the $720,000 median first-home price:
| Deposit | Amount | Average KiwiSaver withdrawal covers |
|---|---|---|
| 5% | $36,000 | 127% |
| 10% | $72,000 | 63% |
| 20% | $144,000 | 32% |
Questions about the First Home Grant
Is there still a first home buyers grant in NZ?
No. It closed to new applications on 22 May 2024.
What are first home buyers entitled to in NZ?
There is no cash entitlement, but you may qualify for the First Home Loan, a KiwiSaver withdrawal or lender rules for new builds, each with its own rules.
Is First Home Partner still open?
It let Kāinga Ora take an equity share in a new home. As at 5 October 2026, reports say it is full and closed, but we could not confirm that with Kāinga Ora, so check with them.
Figures as at 5 October 2026. Sources: RNZ, First Home Grant scrapped, Kāinga Ora, First Home Loan, govt.nz, buying your first home, IRD, KiwiSaver withdrawals, Cotality, first-home buyers, interest.co.nz on RBNZ low-equity data.
Reviewed against RNZ, Kāinga Ora, govt.nz, IRD, Cotality and interest.co.nz. General information only, not financial advice.