'First-home grant middle-class welfare and scrapping it won't make a difference'

First-home buyers tend to find a way of getting on the property ladder regardless, mortgage brokers say. (Image: NZME)

Thu, 23 May 2024

Axing grants for first-home buyers will make virtually no difference to their ability to get onto the property ladder, commentators say.The government confirmed on Wednesday that the First Home Grant was gone, with administering agency Kāinga Ora ceasing to take applications at 1pm.The scheme offered eligible first-home buyers a grant of up to $5000 for an existing house and $10,000 for a new build.First-home buyers accounted for record levels of property purchases in the past couple of years and made up 26% of the market in the first quarter o...

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