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.


 

LVR speed limits continue to have a “strong effect” on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.

Wednesday, September 25th 2019, 2:25PM

Investors borrowed $1.02 billion last month, down from $1.24 billion in August 2018, according to the latest Reserve Bank figures.

The drop comes despite the loosening of LVR speed limits for owner-occupiers and investors at the start of the year.

CoreLogic senior property economist Kelvin Davidson said the investor figures were “pretty soft”, with only 1% of lending to investors going to those with less than a 30% deposit.

“This hints at a restraint from the speed limit, and hence could be a key group that would benefit from a potential loosening of the LVR rules in November,” Davidson added.

Overall mortgage lending was flat last month. Borrowing reached $5.38 billion, slightly down from $5.4 billion in August last year.

First home buyer borrowing grew to $923 million last month, up from…………

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