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Easiest way to save : Young Kiwi homeowner uses $60,000 from KiwiSaver to buy first home Newshub 27/01/2021 Priscilla Dickinson © Getty. Young Kiwi homeowner Hamish saved a house deposit over five-to-six years, using $60,000 from KiwiSaver. © Provided by Newshub
A homeowner in his mid-20s is urging Kiwis desperate to get onto the property ladder to join KiwiSaver - and have a plan.
Property prices have skyrocketed over the past year, boosted by low interest rates, removal of loan-to-value ratio (LVR) restrictions, investors wanting a higher return and existing homeowners trading up.
REINZ December data shows the national median sale price hit $749,000. For most first home buyers, buying at this price would mean stumping up almost $150,000 for a 20 percent deposit.
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