Can I use my KiwiSaver to buy a house in Australia? Everything you need to know.

NZ Citizens can use KiwiSaver to buy a first home, but what about Australian property? Here's everything you need to know

Can I use my KiwiSaver to buy a house in Australia? Everything you need to know

New Zealand citizens who have held a KiwiSaver account for at least three years can withdraw contributions (including personal, government, and employer payments) to buy their first home. But what about using your KiwiSaver to buy Australian property?

Since 2015, using your KiwiSaver to buy property outside of New Zealand is no longer possible. However, NZ citizens who move to Australia could transfer their KiwiSaver into an Australian account and potentially access funds this way.

Even if you cannot use your KiwiSaver to buy Australian property, it is worth remembering NZ citizens are effectively treated as Australian citizens when buying Aussie property.

You may even be eligible for concessions like stamp duty exemptions and first home owner grants.

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Can I use my KiwiSaver to buy a house in Australia?

Before 2015, those who held a KiwiSaver for at least three years could withdraw contributions for a house deposit, provided $1,000 remained in their accounts.

However, since the 2015 HomeStart amendment to KiwiSaver - which introduced the caveat that properties need to be within New Zealand - New Zealand residents cannot use their KiwiSaver funds to buy Australian property.

There is some good news for NZ citizens buying property within Australia, though. New Zealanders can transfer their KiwiSaver balances to an Australian Superannuation fund (the Aussie equivalent) and access any voluntary contributions towards a house deposit.

Can NZ Citizens buy property in Australia? Read our comprehensive guide here

Using KiwiSaver to buy your first home in Australia

If you’re buying a first home in Australia, you may be able to use non-compulsory payments (funds not paid by your employer) to buy Australian property.

The Australian Government’s First Home Super Saver (FHSS) allows access to voluntary superannuation funds towards a house deposit. These need to be genuine (non-employer) contributions to a maximum of $15,000 per financial year, up to a total of $50,000 across all years.

So, any non-compulsory funds from your KiwiSaver can be accessed once transferred to an Australian superannuation account.

How can New Zealanders buy Australian property?

Whether buying an Australian home within the country or across the ditch, both are possible. With the right lender, you could even use the equity in your NZ home to buy Australian property.

The process varies on whether you’re investing or buying as a citizen, but it generally looks like this:

  • Estimate your borrowing power to get an idea of how much you can spend
  • Search for properties
  • Compare deals for the best home loan rates
  • Submit documents and seek pre-approval
  • Make an offer and settle

You may also consider the help of professionals like conveyancers, property inspectors, and buyers agents.

Finding an Australian lender to work with foreign citizens can be challenging. At UNO, we work with lenders who specialise in foreign loans. They can even help you release the equity in your New Zealand home.

Thinking about buying Australian property? Chat with us today

Concessions for NZ Citizens buying homes in Australia


Unlike most foreign citizens, New Zealand citizens don’t need approval from the Foreign Investor Review Board (FIRB) to purchase Australian property from New Zealand.

Kiwis with permanent resident status (i.e., Subclass 461 visa) buying their first home in Australia are also eligible for First Home Owners (FHOG) grants between $10,000 to $30,000 in most states.

It is also possible to qualify for stamp duty exemptions in some states, saving you around 3% in property tax if you are eligible. Read our state-by-state breakdown here.

Finally, if you buy a house in the Northern Territory, there is no Foreign Transfer Duty of 7-8% unlike in other Australian states and territories.

Win 3 Million Velocity Points
For more information, click here
Sources
https://www.ato.gov.au/individuals/super/withdrawing-and-using-your-super/first-home-super-saver-scheme/https://www.legislation.govt.nz/act/public/2015/0053/7.0/whole.htmlhttps://www.ato.gov.au/individuals/super/withdrawing-and-using-your-super/first-home-super-saver-scheme/https://visaguide.world/australia-visa/family/new-zealand-family-visa-461/



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Mike Parsons made it possible for us and the in laws to get 2 pretty complicated home loans. He helped us through everything and we'd be happy to use Mike and the team again for anything we needed. Thanks again!
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I have gone through 6 different mortgage brokers prior to meeting Andrew Wyers. He is the most patient mortgage broker I’ve encountered and also the most knowledgable about the bank’s lending process and products available. It took me 1 year to find a house I was happy with and Andrew was always there to assist with any issues or questions I had; he always return my phone call, even on the weekends or when his away on holidays. The loan process was smooth and I had no complications. The process with Andrew was again nice and easy, he took the time to find and put together the right package that was suited to my situation. I have recommended Andrew to my family & friends and everyone have been grateful and completely satisfied with his service.
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I had not dealt with Scott or UNO before finding them on the internet. Even as an Australian citizen living and working overseas, I knew obtaining a loan would be difficult. However, Scott went above and beyond what I expected from a mortgage broker. I genuinely don’t think you could find another company that works as hard as they did to get my home loan approved. I cannot recommend them highly enough. Everyone I dealt with at UNO were extremely professional and helpful. If you are looking for a broker, you would be mad not to give them a go. Thanks to Scott Wilkinson, Dalby Bajwa, Jena Lasquite and Andrew Pacini. Shaun.
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I had an outstanding experience with Tian Liu. He was incredibly professional and attentive, going above and beyond to meet my needs. His expertise and dedication made the entire process smooth and stress-free. Tian's deep knowledge of the market and commitment to finding the best solutions for his clients truly sets him apart. He was always available to answer my questions and provided invaluable guidance throughout. I highly recommend Tian Liu to anyone in need of a reliable and skilled broker!"
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Tian Liu provided exceptional service throughout the entire process. His professionalism and keen attention to detail were evident from the start. Tian consistently kept us informed and offered insightful advice that made us feel confident in our decisions. He truly cares about his clients and works tirelessly to ensure the best possible outcome. We couldn't be happier with his assistance and highly recommend Tian to anyone looking for a trustworthy and knowledgeable broker.
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For the past three years, it has been an absolute pleasure to work with Mike Parsons. He has consistently helped us navigate commercial property loans with skill and efficiency. Mike’s timely and professional responses to our inquiries have been invaluable. We have built a strong, reliable relationship with him and eagerly anticipate continuing our collaboration in the future. We highly recommend his services.
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I am so thankful and grateful to have Scott Wilkinson as my broker. He not only looked after me every step from start to finish he gave me confidence and I was able to trust him and his expertise. My children and I are now happy in our new home and very appreciative of Scott's help. I will definitely be only having Scott as my broker from here onward as there is no mucking around and straightforward answers. Thanks again
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August 5, 2024
I am writing this summary in support of recommending Mike Parsons as a Mortgage Broker. At the time of writing this, I have known Mike for 4 years and he has executed 4 mortgages deals for me (including 2 refinances) over that time. Mike has provided me incredible service as a mortgage broker as follows : - Works painstakingly on getting the scenarios together to provide you options that optimize your position. - Works inordinate hours on the detail necessary to support the scenarios. - Mike keeps you updated on the status and progress of the applications and also helps you work through answering questions and any complexities that may arise. -In my cases, given the complexities and timings of my situations , these application processes would take many weeks to finalize . Mike never gave anything other than utter commitment and focus to getting the job done. Mike acts as a true business partner throughout this whole broker /mortgage journey. I simply would only go to Mike for any future dealings on getting a loan from a bank (and as will my kids in the future !) . There is no way a bank (I have seen anyway) would provide this kind of time nor service to a customer. You can rest assured that once Mike has done the deal, you have ended up with the most optimized position taking into account all the variables/scenarios in play. Scott Hutchinson
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I've worked with Scott Wilkinson for my last 2 properties and he's been excellent. He sourced multiple options and didn't push a specific bank, tailoring his recommendations to me based on my requirements. I was specifically requesting a "medico loan" and Scott could navigate that extra requirement with expertise. When I was initially working with Scott, I was also trialling 2 other brokers and neither of those 2 had the same breadth of lenders, or could provide the same deals. I've referred multiple buyers to Scott and his team; one of them said to me after working with him, "how'd you find this guy, he's so good compared to all the other broker's I've worked with!" I'm going into my next purchase with Scott as my broker partner again. I recommend him to everyone
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My experience with Mortgage Broker - Scott Wilkinson, and his team - exceeded my expectations! I couldn’t be happier after settlement - in this current financial climate. He listened to what my requirements were in a loan and then devised a suitable plan for me moving forward. Which was something I didn’t think was possible to achieve. I strongly believe that Scott’s qualifications and previous experience in the Finance Sector - sets him apart from other Mortgage Brokers as he has more insight into the industry and the needs of the customer. Scott was professional, provided solid options, was timely with communication and gave great advice. I will definitely be using Scott’s services in the future and I highly recommend him to anyone as a Mortgage Broker.
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