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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
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