Phil TwyfordHouse price caps for Queenstown Lakes will be increased to enable more first-home buyers to get on to the property ladder, the Government announced today. He said the previous HomeStart price caps of $500,000 for existing homes and $550,000 for new builds meant it was ''virtually impossible'' for first-home buyers to access the grants. “Only 7% of all house sales in Queenstown Lakes were below $550,000 in the year to March 2018. He said the changes were the result of a request from National’s Clutha-Southland MP Hamish Walker, who wrote to him highlighting the discrepancy between Auckland and Queenstown’s HomeStart price caps. The changes to the HomeStart and Welcome Home Loan house price caps for Queenstown Lakes District will come into effect from Monday, September 17.

Source: Otago Daily Times August 30, 2018 03:45 UTC