New rules make it harder for investors

Property investors will need a 40 per cent deposit under tough new restrictions revealed yesterday, with restrictions to lending limits on residential properties being extended nationwide.

The new rules are being urgently introduced in an attempt to put a lid on New Zealand's spiralling property prices. Reserve Bank Governor Graeme Wheeler outlined the new rules yesterday, and told banks they will be expected to act immediately.

Property investors will need a 40 per cent deposit under tough new restrictions revealed yesterday, with restrictions to lending limits on residential properties being extended nationwide.

The new rules are being urgently introduced in an attempt to put a lid on New Zealand’s spiralling property prices. Reserve Bank Governor Graeme Wheeler outlined the new rules yesterday, and told banks they will be expected to act immediately.

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