Deposit Progress Tracker
Frequently asked questions
How much deposit do I need to buy a house in NZ?
Most NZ banks require a minimum 20% deposit (80% LVR) for owner-occupiers under RBNZ lending restrictions. For a $700,000 property, that is a $140,000 deposit. Some exceptions apply — including certain new build lending and Kainga Ora first home programmes — but 20% is the standard threshold for mainstream bank lending.
How long does it take to save a house deposit in NZ?
It depends on your target price, current savings and monthly savings rate. For a 20% deposit on a $700,000 property ($140,000 target), saving $2,000 per month from $40,000 already saved would take approximately 4.2 years at a 3% annual return. Including KiwiSaver contributions can shorten this significantly.
Does KiwiSaver count toward my house deposit?
Yes. After contributing for at least 3 years, you can withdraw your full KiwiSaver balance minus $1,000 toward a first home purchase. This can substantially boost your deposit. Use the KiwiSaver First Home Withdrawal Estimator to calculate your eligible amount.
What savings return rate should I use?
For money in a high-interest bank account or term deposit, use 3–4%. For KiwiSaver in a growth fund, long-run averages have been 5–8% but returns are not guaranteed. The calculator lets you adjust this to model different scenarios.