Housing announcement: Are you eligible for the Government's First Home Grant under the new income and price caps?

Kiwis who earn higher incomes will be eligible for Kāinga Ora's First Home Grant after the Government made a raft of changes to housing laws on Tuesday. 

The changes were designed to make it easier for first-home buyers to get onto the property ladder and include an increase in the income and price caps. 

The First Home Grant is a payment of $5000 per buyer for an existing property and $10,000 for new builds - as long as they've been contributing to KiwiSaver for at least three years.

The income cap for the First Home Grant is now $95,000 for individual buyers and $150,000 for multiple (e.g. couples). 

To get the grant, the price of the house being purchased has to come in under a certain dollar value

There are several other criteria for the First Home Grant, including being over 18 years old and not owning any other property. 

Find out if you're eligible for the First Home Grant below.