Good News for Kiwis

If you're a New Zealander looking to buy property in Australia, you're in luck.

• No foreign buyer restrictions
• No FIRB approval
• Access to first-home buyer grants
• Use your KiwiSaver
• Own property in NZ and still qualify
• Stack multiple concessions

Already own a home in NZ? You can refinance, access equity, and bring a deposit to Australia—all while keeping your NZ property working for you. Get exposure to both markets without selling up.

The process is smoother than you might expect. This guide breaks down everything—from deposit requirements to tax implications—so you can make an informed decision. We speak from real experience, as a Kiwi who has moved over and made Australia his home and helped others, I have done it before. You're in the right place and have an expert on your side.

Visa Eligibility & Property Rights

Subclass 444 Visa – The Key to Buying Property in Australia as a Kiwi

The Subclass 444 Special Category Visa (SCV) is a visa automatically granted to New Zealand citizens when they enter Australia. It allows you to live, work, and buy property in Australia with fewer restrictions than other foreign buyers.

Why It Matters for Buying Property

• No FIRB Approval Needed – Unlike other foreign buyers, Kiwis don’t need Foreign Investment Review Board (FIRB) approval to buy Australian property.
• Same Property Rights as Australians – You can buy existing homes, not just new builds like most foreign investors.
• First-Home Buyer Grants – You may be eligible for the First Home Owner Grant (FHOG) and stamp duty concessions in some states.
• Mortgage Access – You can apply for home loans on the same terms as Australian citizens.

Who Qualifies for the Subclass 444 Visa?

• You must be a New Zealand citizen
• You must enter Australia with a valid NZ passport
• You can’t have serious criminal convictions

How Do You Get It?

• No need to apply in advance—it’s granted automatically when you arrive in Australia.
• If you leave and re-enter, a new Subclass 444 Visa is issued each time.

Pro Tip: Being in Australia when you buy property is a lot easier than buying when still back in NZ. Want to know more? Check the Australian Department of Home Affairs for full details.

How Much Deposit Do You Need?

There’s no one-size-fits-all answer, but here’s a general rule:

Most lenders require at least 10% in genuine savings, though some will accept as little as 5%.

The bigger your deposit, the better your deal—banks offer lower interest rates for lower risk. This is known as your Loan-to-Value Ratio (LVR)—a key term to know when discussing mortgages.

Your deposit amount depends on the property's value and how much you're putting down:

✅ For a $500,000 property

• 5% deposit → $25,000
• 10% deposit → $50,000
• 20% deposit → $100,000

✅ For an $800,000 property

• 5% deposit → $40,000
• 10% deposit → $80,000
• 20% deposit → $160,000

✅ For a $1,000,000 property

• 5% deposit → $50,000
• 10% deposit → $100,000
• 20% deposit → $200,000

Pro Tip: A 20% deposit eliminates Lenders Mortgage Insurance (LMI)—which could save you thousands in fees.

How to Avoid Lenders Mortgage Insurance (LMI)

Lenders Mortgage Insurance (LMI) can significantly increase the cost of your home loan if your deposit is less than 20%. Here’s how you can avoid it:

• First Home Guarantee: This program allows eligible first-home buyers to purchase a property with just a 5% deposit without needing to pay LMI.
• Guarantor Loan: A family member can use the equity in their own home as security for your loan, which can help you avoid LMI.
• Consult a Mortgages Plus Broker: Our experts can help explore these options and more to find the best solution for your situation.

Ask an M+ broker today to check your options.

Understanding Stamp Duty

Stamp duty is a state-based tax that is a significant addition to the cost of buying a property:

• How Much Is It?: For a $650,000 property, expect to pay around $29,148 in NSW, $22,251 in QLD, and $34,070 in VIC.
• First-Home Buyer Concessions: Many states offer exemptions or discounts on stamp duty for first-home buyers, potentially saving thousands.
• Calculating Your Cost: Use a stamp duty calculator to find out exactly what you’ll need to pay based on your specific circumstances.

Pro Tip: Navigating these costs effectively can make a huge difference in the affordability of your new home. Consult with a good mortgage broker to fully understand your options and obligations.

First Home Owner Grant (FHOG) – Free Money for Kiwis

If you're a New Zealander looking to buy your first home in Australia, you might be eligible for the First Home Owner Grant (FHOG), a substantial benefit that can help make your purchase more affordable.

Grant Amounts by State:

• Victoria & New South Wales: $10,000
• Queensland: $15,000
• Tasmania: Up to $30,000

Eligibility Criteria:

• Type of Property: Must be a new home (the grant does not apply to existing homes).
• Property Value Limit: The value must be under $750,000, although this cap can vary depending on the state.
• Residency Requirement: You must live in the home for at least 12 months.

Additional Information:

• NZ Property Ownership: Owning property in New Zealand does not affect your eligibility for the FHOG in Australia.

Applying for the FHOG: Navigating the application process for the First Home Owner Grant can be intricate. Consulting with an experienced broker can help you understand all the requirements and ensure you make the most of this opportunity.

Pro Tip: While the financial incentives for new builds are appealing, they come with inherent risks. It’s crucial to verify the builder's reliability and track record since new constructions haven't withstood the test of time like established homes.

Can You Use Your KiwiSaver?

Unfortunately, no. Since 2015, KiwiSaver funds can only be used for property purchases inside New Zealand.

But there’s a workaround:

• You can transfer your KiwiSaver to an Australian superannuation fund
• You can then access voluntary contributions (up to $50,000) for a home deposit under the First Home Super Saver Scheme (FHSS)

📝 More details? Check the Australian Taxation Office (ATO) page.

Buying Property in Australia from New Zealand

Want to buy before you move? You can—but there are extra costs.

Foreign Transfer Duty – What to Expect

If you buy while still overseas, some states charge extra duty:

State Foreign Buyer Duty

• NSW 8%
• VIC 8%
• QLD 7%
• WA 7%
• SA 7%
• NT No foreign duty

Example: On a $750,000 home in QLD, the 7% surcharge adds $52,500 to your costs.

‍How to Buy Property in Australia – Step by Step

Buying After You Move

1. Land a job – Most lenders need at least one Australian payslip.
2. Check borrowing power – Use our fast and simple mortgage calculator
3. Get pre-approved – Choose from 50+ lenders.
4. Make an offer – Pre-approval boosts negotiation power.
5. Settle in ~45 days – Complete the purchase.

Buying from NZ

1. Estimate borrowing power – Know your budget.
2. Seek pre-approval – Work with lenders accepting NZ income.
3. Consider extra costs – Factor in stamp duty and foreign buyer fees.
4. Make an offer & settle – Finalize your purchase remotely.

Final Thoughts

As a New Zealander, you benefit from unique property-buying privileges:

• No FIRB Approval Needed
• Access to First-Home Grants & Stamp Duty Discounts
• Same Mortgage Rates as Australian Residents

Take the next step

Reach out and get pre-approved.

Let’s make it happen.