Property Council wants more clarity on Home Start Grants

Author
Newstalk ZB,
Publish Date
Wed, 18 Nov 2020, 2:47PM
(Photo / 123RF)
(Photo / 123RF)

Property Council wants more clarity on Home Start Grants

Author
Newstalk ZB,
Publish Date
Wed, 18 Nov 2020, 2:47PM

The real state industry wants more clarity on Home Start Grants.

First-time buyers can receive $5,000 or $10,000 as a couple, but with caps on incomes and the prices of properties they can purchase - $600,000 in Auckland and $500,000 in most other places.

The Real Estate Institute says house prices have risen 20 percent in the last year, so caps should be removed to help buyers.

Property Council CEO Leonie Freeman told Kate Hawkesby it would be useful to have criteria from the Government about how these things would be reviewed.

"How their level of pricing with the Home Start Grant tracks in with the market, so everyone's clear about how it would work."

She says we need to think about both the supply and the demand side.

"We need to look at the whole property eco-system as one thing, and not just as one lever we can pull and the problem will be solved, because it won't." 

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