Generation rent - is home ownership still achievable?

A recent report from the Financial Services Council shows home ownership remains the dream of most Kiwis but many now consider this out of reach.

Increasing property prices are impacting wellbeing with financial issues adversely affecting mental health. Property is still seen as an important and significant factor in providing financial security for a family but high prices and increasing deposit requirements are affecting ability to purchase.

Generation renters are saving and needing to make sacrifices such as cutting back on their lifestyle, working overtime and delaying starting or extending a family to assist.

Many feel locked out of the property market and believe the Government and banks should ne doing more to assist first home buyers in to the market.

Saving through KiwiSaver and the first home buyers package continue to be a very important part of building a deposit for buying a first home.

Talk to us if you want to discuss using KiwiSaver to help you into your first home.

You can read the full report here.