Aus, NZ Support First-Home Buyers with New Initiatives

First-home buyers in Australia and New Zealand are receiving significant support through new initiatives aimed at easing the path to homeownership. In New Zealand, Fletcher Living has introduced a $10,000 grant to assist with deposits, complementing the stabilization of interest rates and property prices. Meanwhile, the re-elected Labor Government in Australia promises to allow first home buyers to purchase homes with a 5% deposit, guaranteed by the government, eliminating the need for Lenders Mortgage Insurance, and raising property price caps for eligibility. This initiative includes a $10 billion investment to construct 100,000 homes exclusively for first home buyers, addressing housing shortages and affordability concerns. These measures are part of a broader strategy to increase home ownership and reduce the financial burden on young buyers, potentially accelerating their entry into the property market.