The National Business Review states Housing Minister Nick Smith has announced effective today Kiwisaver house price caps would increase by $50,000 across the country.

• They are now $600,000 in Auckland,
• $500,000 in Wellington, Christchurch, Hamilton, Tauranga, Queenstown and Nelson-Tasman.
• $400,000 in all other areas.
• In Addition for new build properties the caps increase another $50,000, i.e $650,000 for Auckland, $550,000 inWellington,Christchurch,Hamilton,Tauranga,Queenstown and Nelson-Tasman.
• $450,000 in all other areas.

In addition Income caps have raised to $85,000 for a single buyer or $130,000 for two or more buyers.