Property investors continue to pull back from Auckland, with the latest data from the Reserve Bank of New Zealand (RBNZ) showing that Auckland investors cut their share of mortgages to 41% in August – down from the 48% peak share recorded in June 2016:
The slowing in investor mortgage demand follows new loan-to-value ratio (LVR) restrictions targeting investors from the RBNZ, which officially came into effect on 1 October, although banks have been informally applying the rules since they were first announced in mid-July.
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