RBNZ targets Auckland with new macro-prudential plans

auckland-nz
Auckland, New Zealand

The Reserve Bank of New Zealand (RBNZ) is looking to dampen investor activity in the Auckland housing market by introducing more targeted macro-prudential policies.

If adopted, the proposals will only allow banks to lend to residential property investors in the 'Auckland Council area' with a deposit of at least 30%.

This would be a more restrictive policy than the existing 'speed limit' in place for mortgage lending in the rest of the country. At present banks are only able to extend 10% of new

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