How to save a first-home deposit

Posted by Sam Goldwater in Savings on

The deposit required to buy a house in many parts of New Zealand looks more like a Lotto win than an amount you might save.

In Auckland, the lower-quartile house price is about $680,000. That means, if you want a 20 per cent deposit, you will need $136,000.

In Christchurch, first-home buyers need to save about $75,000 and in Wellington City, just under $100,000.

So, how do you get there?

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