Millennials are increasingly using super funds to buy houses in the regions

Millennials, estimated around one million people in New Zealand, are KiwiSaver’s biggest customers.

The attraction comes, in part at least, because it’s been such a popular vehicle to save up for a home deposit.

More than 75 per cent of New Zealand’s working population were enrolled in a KiwiSaver fund, and the amount of people opting out has halved, totalling over 2.7 million New Zealanders enrolled in the scheme.

According to the Inland Revenue Department, this included nearly 600,000 people aged between 25 and 34 as of June this year.

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MARK CORNELL/STUFF

In April 2016, an Auckland city house was three times more expensive than one in Marlborough. Since then, the number of Westpac mortgages issued to Marlborough first home buyers has increased 74 per cent.

READ MORE VIA STUFF

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