We strive to keep Wellington property owners up to date with the latest property information.
Here is another interesting Wellington real estate related news article that we thought may provide you with helpful information.
There is no compelling case to roll back the Reserve Bank’s LVRs despite the slowing of the housing market, according to Westpac economists.
by Miriam Bell
Evidence of the extent to which the housing market has slowed, particularly in Auckland, has been coming thick and fast of late.
This has prompted speculation from a range of sources, including the Prime Minister Bill English and Labour Party leader Jacinda Adern, that it might be time for the Reserve Bank to review its LVR rules.
However, in their weekly commentary, Westpac’s economists said today that this suggestion is premature.
They said that while the LVRs have done a lot to slow the pace of house sales, it was less clear that the restrictions are leading to dysfunction in the loan market.
“One symptom of this would be a rush of home buyers towards non-bank lenders; there has been some pickup in that segment of the market, but it remains a very small share of total lending.”
There might be a strong case for easing the LVRs if house….
Continue reading this article at the original source from GoodReturns.co.nz
Own property in Wellington? Get our Free Halina Sells Houses e-Newsletter HERE