First Home Buyers Weekly Wrap – 20th April 2015

This week saw the first of a series of public meetings to showcase the Government’s new HomeStart policy.

HomeStart PR offensive kicks off

Up to 20 meetings across the country are planned to promote and explain the expansion of the KiwiSaver and Welcome Home Loan packages. Read more

Be realistic, first-home buyers told

First-home buyers need to be realistic and accept they cannot afford the leafy suburbs of Remuera, Building and Housing Minister Nick Smith says.

“There are properties in that price range if people are prepared to go further south and north and, admittedly, that comes with a large commute for those that work in the CBD (central business district) but, actually, some people need to make that choice to get their first rung on the housing ladder,” he said. Read more

What Auckland properties can you buy for $550,000?

Minister for Housing Nick Smith attempted to dampen Auckland housing worries on Wednesday, illustrating a formula for buying a West Auckland home on the average wage.

When asked at the public meeting, held in Henderson, exactly where these affordable houses were, Smith said there were 53 West Auckland properties on the market for under $550,000. He claimed this price was achievable for many couples using the Government’s new HomeStart scheme.

So Stuff.co.nz took a look at what $550,000 will get you in West  Auckland: Read more

The other major news stories from the past week came from a speech by the Reserve Bank’s Deputy Governor, Grant Spencer calling for a capital gains tax on investment property.

Capital gains tax on investment property – bold call from Reserve Bank

Crazy, skyrocketing house prices in Auckland have forced a big call from the Reserve Bank.

It believes speculators making huge tax-free profits are driving the boom, and the bank wants a capital gains tax on investment property.

The message came in a hard-hitting speech from the bank’s Deputy Governor, Grant Spencer, who’s warning about the dangers of a housing bubble collapse. Read more

Following on from last week’s guest post from Robyn Forryan, “10 hot tips for growing your deposit”  this week’s post provides 8 tips for saving for you deposit.

How to create extra income for your deposit

In the last post I gave you some ideas for cutting back your expenses but the other way to increase the money you have available to save for your deposit is to increase your income.  Read more

Auctions tense for first-time buyers

Half of all houses sold in Auckland last month were auctioned – an all-time record.  Read more

At The First Home Buyers Club, we are here to help every step of the way, from saving your first dollar to moving in and everything in between! The best way to turn your dream to reality is to have a plan and thats something we can help with! Our planning service will help you tailor your own Homeownership plan.

Start your journey to home ownership – book your planning meeting today!