Buying guide
Everything you need to know about home loan deposits in New Zealand
Your straightforward guide to home loan deposits in Aotearoa.
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AI summary
Saving for a home loan deposit in New Zealand typically requires 20% of the property's value. A larger deposit signals to lenders that you are a lower risk, which can result in better loan terms.
Your deposit should include at least 5% from 'genuine savings'—money you've saved yourself.
First-home buyers can use their KiwiSaver funds after three years of membership. The First Home Loan scheme also helps eligible buyers secure a loan with only a 5% deposit, subject to income caps.
What you'll learn
How much deposit is needed to buy a house in NZ?
| Region | Average asking price | Deposit needed (20%) | |||
|---|---|---|---|---|---|
| Auckland | Auckland | $1,006,000 | $1,006,000 | $201,000 | $201,000 |
| Wellington | Wellington | $788,000 | $788,000 | $158,000 | $158,000 |
| Canterbury | Canterbury | $698,000 | $698,000 | $140,000 | $140,000 |
Most home deposits are around 20% of the property's asking price.
Why do lenders care about my home loan deposit?
What can I use for my home loan deposit?
Using your KiwiSaver for your home loan deposit
Using your KiwiSaver can be a big help in reaching your home loan goals.
What is the First Home Loan scheme?
Quick tips for saving for a home loan deposit
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