First home buyers, Christchurch
Buying your first home in Christchurch
What deposit you actually need, how to use your KiwiSaver, and the local quirks lenders ask about. Free advice from a Christchurch mortgage broker.
First home buyers are getting in
Christchurch has long been one of the more achievable main centres for a first home, and in 2026 first home buyers made up a record share of property sales across New Zealand. Bigger KiwiSaver balances and looser deposit rules are a big part of why.
The catch is that the path is rarely the one the bank describes. What you can borrow, how much deposit you really need, whether to buy new or existing, and how to time your KiwiSaver withdrawal all need to line up. We do that lining up for you, and on home lending it costs you nothing because the lender pays us.
Our office is at 3/24 Dublin Street in the central city. Come in, or do the whole thing by phone and email.
- Deposit
- Often 10% to 20%, sometimes 5%
- Deposit can come from
- Savings, KiwiSaver, or a gift from family
- Lenders compared
- More than 20 banks and non-bank lenders
- Cost to you
- No client fees, the lender pays us
2026 rules
First home help that still exists, and what has gone
A lot of what you read online about first home buying is out of date. Here is where things stand.
Still available
- KiwiSaver first home withdrawal. After at least three years as a member you can withdraw your savings, including your employer's and the government's contributions and returns, leaving at least $1,000 in the account. The home must be one you intend to live in, and you cannot already own property.
- Kāinga Ora First Home Loan. A 5% deposit loan through participating banks, including ANZ, ASB, BNZ, Kiwibank and Westpac. Income caps apply: $95,000 for a single buyer with no dependants, or $150,000 for a single buyer with dependants or two or more buyers combined. A lenders mortgage insurance premium of 1.2% of the loan applies, and it can be added to the loan.
- More room for low deposits. Since 1 December 2025 banks can write up to 25% of their new owner occupier lending to people with less than a 20% deposit, up from 20%.
- New build advantages. New builds are exempt from the debt-to-income limits, and lenders often accept a smaller deposit on them.
No longer available
- The First Home Grant closed to new applications on 22 May 2024.
- First Home Partner, the shared ownership scheme, closed in September 2023.
- KiwiBuild closed to new applicants in October 2024.
Rules as published by Kāinga Ora, Inland Revenue and the Reserve Bank at October 2026. They change, so check with us before you rely on them.
Local knowledge
What lenders ask about in Christchurch
Buying here is not quite like buying anywhere else, and a first home buyer is the person most likely to be caught out.
- Land classification. Residential land on the flat in Christchurch has a technical category, TC1, TC2 or TC3, from the earthquake recovery. Hill sites have none and need their own assessment. It affects foundation design, insurance and how some lenders view a property. You can check any address on the council's technical categories map.
- Repair history. Homes that went through the 2010 and 2011 earthquakes may have had repairs or claims. Your lawyer and builder should check the repair records before you go unconditional.
- Cladding. Homes built from the mid eighties to the early two thousands get a closer look for monolithic cladding and weathertightness.
- Auctions. Christchurch sells a lot by auction, and an auction is unconditional when the hammer falls. A pre-approval is what lets you bid at all.
- Townhouses. Much of the new supply close to the city is townhouses. Some lenders want a bigger deposit for small units, so it pays to know which ones before you fall in love with a place.
Priced out of the suburb you want? A lot of first home buyers look to the towns around the city. See our pages for Rolleston, Kaiapoi, Woodend and Pegasus and Rangiora.
How it works
From first chat to keys
Work out your numbers
What you can borrow, what deposit you need, and how your KiwiSaver fits in.
Get pre-approved
So you can make offers and bid at auction with confidence.
Line up your KiwiSaver
We help time the withdrawal so the money is there on settlement day.
Find the right lender
We compare 20+ lenders and negotiate the rate and any cash contribution.
Handle the paperwork
From unconditional through to settlement, with your lawyer.
Stay in touch
We review your loan when your fixed rate ends, so it keeps working for you.
Want the full detail first? Read our first home buyers guide and talk to a KiwiSaver adviser in Christchurch.
Common questions
First home buyer questions
How much deposit do I need for a first home in Christchurch?
A 20% deposit gives you the widest choice of lenders and the sharpest rates, but plenty of first home buyers get in with less. Since 1 December 2025 banks can write up to 25% of their new owner occupier lending to people with less than a 20% deposit, so 10% to 15% deposits are common. If you qualify for the Kāinga Ora First Home Loan you may be able to buy with 5%. New builds are often treated more generously again.
Can I still get the First Home Grant?
No. The Kāinga Ora First Home Grant closed to new applications on 22 May 2024, and First Home Partner closed in September 2023. The main help still available is the KiwiSaver first home withdrawal and the Kāinga Ora First Home Loan.
Can I use my KiwiSaver for a first home in Christchurch?
Usually, yes. You need to have been a KiwiSaver member for at least three years, leave at least $1,000 in your account, intend to live in the home, and not already own property. Some previous home owners can also qualify through Kāinga Ora.
Should I buy a new build or an existing home?
Both can work. New builds often need a smaller deposit and are exempt from debt-to-income limits, but you need to plan for construction lending and possible delays. Existing homes can be bought and moved into straight away, but you need to understand their land classification, repair history and cladding before you commit. See our build and construction loans page if you are leaning towards building.
Across Canterbury
Other areas we work in
We're based in Christchurch and work with clients right across Canterbury and the rest of New Zealand.
No cost · No obligation
Free 30 min first home chat
Tell us where you're at, even if you're a year away from buying. Journey Mortgages will be in touch within 24 business hours.
- A straight answer on what you can borrow
- 20+ banks and lenders compared for you
- No fees to you on home and investment loans
- A reply within 24 business hours
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