The high cost of housing is being blamed for a slow start to the Kiwisaver Home Deposit scheme.
Since 1 July, Kiwisaver members have been able to apply to withdraw their savings to help buy their first home.
They are also eligible for a deposit subsidy of $1000 for each year of membership.
So far 120 people have applied, with 10 approvals to withdraw savings and 44 approvals for the deposit subsidy; another 23 approvals are pending.
Housing Minister Phil Heatley says the numbers are expected to grow to about 1000 a year.
But Labour Party finance spokesperson David Cunliffe says the numbers are tiny and a key factor is the high price of housing.
Housing consultant Brian Dalley says apartments are often the only affordable option for many first-home buyers, particularly in Auckland and Wellington.
But he says banks demand deposits on apartments of up to 40%, which deters borrowers.
