Mortgage lending falls in June

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.


 

Latest data from the Reserve Bank shows mortgage lending tapered off in June following a strong surge in May.

July 25th 2018, 4:34PM

by Dan Dunkley

According to figures released today, lending volumes hit $5.3 billion last month, roughly comparable with the $5.09 billion lent in June last year, but significantly lower than the $6.5 billion borrowed in May.

The data suggests the market comeback kick-started by the relaxation of LVR rules in January has calmed.

First time buyers cooled their interest in the New Zealand property market after a strong showing so far this year. According to RBNZ, they borrowed $803 million, compared to over $1.1 billion in May.

Government restrictions on property investors, including tough LVR limits, kept investor borrowing subdued in June. Fears over further government measures have put the brakes on investor activity in New Zealand’s major cities in recent months.

Investor borrowing was in line with June 2017. Investors borrowed $1.25 billion last month, compared to $1.21 billion in June last year. Volumes were much lower than May, however, when investors borrowed $1.5 billion.

The investor lending figure is the lowest since……….

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

2018-08-21T15:26:30+00:00