Kiwisaver stories
Record rents are keeping first-home buyers in the market, with mortgage payments still cheaper than paying to rent for many Kiwis.
Higher mortgage rates and tighter lending rules are already cooling New Zealand’s housing market, with investor demand slipping further.
The sector now employs nearly 200,000 people and accounts for 15% of New Zealand’s GDP, according to new industry analysis.
Government help may be needed as first-time purchasers’ share of the market falls to its lowest level since 2018, CoreLogic says.
The package aims to boost supply and help first-home buyers, but experts warn it may not curb soaring prices or fix shortages quickly.
Home buyers could gain from easier grants, while investors face a tougher tax regime and rents may rise as a result.
Men own 31,000 more homes than women in New Zealand, underscoring how the gender pay gap is limiting access to property.
Affordability is worsening for first-time buyers as house prices outpace incomes, deepening the housing divide and fuelling political pressure.
Record-low rates have lifted first home buyers to a 25% market share, but reimposed lending curbs could force many out again.
Transaction volumes are expected to fall sharply after lockdown, with weaker demand and limited listings likely to push prices lower.
KiwiSaver provider Generate reports a data breach exposing personal information of 26,000 customers over a one-month period, sparking identity theft concerns.
Slow progress in gender and ethnic diversity on New Zealand's top company boards, with men still dominating, says study.
Hnry and CFFC urge the New Zealand Government to revamp KiwiSaver, advocating for higher contributions and tailored incentives to support the self-employed.
Many first-home buyers will still be shut out by income and price caps, leaving family loans and deposits crucial to getting on the ladder.
Investor buying climbed to 25% of New Zealand property purchases in July, the highest share since late 2016, CoreLogic said.
Widening the KiwiSaver HomeStart grants could help more first-home buyers bridge soaring deposits as rents climb and rates stay low.
Affordability is pushing first home buyers to dominate purchases in several New Zealand suburbs, with some taking more than 60% of sales.
Inland Revenue is moving to help make sure investors, including KiwiSavers, get on the correct prescribed investor tax rate.
Auckland's weaker market is likely to drag on national property sales, even as CoreLogic sees New Zealand prices edging up about 3% this year.
CoreLogic says tighter lending and higher costs have left investors and first home buyers tied on 24% of purchases in early 2019.
