New Zealand Property Investors' Federation, (NZPIF) is the umbrella body for 20 local Property Investors' Associations throughout New Zealand.
Phone: (03) 357 9243
The Reserve Bank today confirmed that new rules tighten restrictions on bank lending to residential property buyers throughout New Zealand.
The Reserve Bank is deferring the start of the proposed changes to investor loan-to-value restrictions (LVRs) nationwide from 1 September to 1 October 2016, based on feedback from the banking industry from its recent consultation on the proposals.
The Reserve Bank has today released a consultation paper proposing changes to loan-to-value restrictions (LVRs) to further mitigate risks to financial stability arising from the current boom in house prices.
One of the Reserve Bank's tasks is to keep inflation between 1% and 3%. It appears that the purpose of the LVR tightening is to allow the Reserve Bank to lower interest rates, thereby stimulating the economy and lowering the NZ dollar.
The Reserve Bank expects new lending limits for Auckland property investors will reduce heightened financial system risk, and help moderate the Auckland housing market cycle, Deputy Governor Grant Spencer said today.
The Reserve Bank today published a summary of submissions and final policy positions in regards to changes in the Loan to Value Ratio restriction rules (LVRs), and the asset classification of residential property investment loans in the Capital Adequacy Framework.
New Zealand’s largest real estate company, Harcourts believes that the new LVR restrictions will do little to solve housing issues in Auckland but that the changes should provide some benefit to the rest of the country
The New Zealand financial system remains sound and continues to operate effectively, Reserve Bank Governor Graeme Wheeler said today when releasing the Bank’s November Financial Stability Report.
Pressures in the New Zealand housing market are easing gradually but risks remain, the Deputy Governor of the Reserve Bank, Grant Spencer, said in a speech today.
Provisional data from New Zealand’s largest real estate group Harcourts for the month of February shows there is continued pressure on the housing market in Auckland and Northland. The group said its average sales price had reached $644,613 – up 13% on the same time last year.
More people are interested in buying investment properties since the loan-to-value rules kicked in, the latest BNZ Consumer Confidence survey shows. It found a net 45% of the respondents are confident that the economy will improve over the next year.
The Bank of New Zealand’s Nine Rewards Consumer Trends Survey indicates that interest in buying residential rental property has almost doubled since the LVRs were introduced
Napier and Wellington have experienced the biggest drops in first-home buyer numbers since the loan-to-value restrictions kicked in, Property IQ data shows. Both have reported a drop of 5.4% in first-home buyers since the rules took hold.
New Zealand’s housing market is firmly in slowdown mode, Westpac’s chief economist says. Dominick Stephens said data from QV and REINZ confirmed the beginning of a trend. He said the fall in sales was most noticeable in the cheaper end of the market and had hit all regions except Queenstown.
Reserve Bank loan-to-value (LVR) rules have had a big impact on first-home buyers, but not made much difference to investors, the latest BNZ/REINZ survey of real-estate agents shows.
First-home buyers may be edging back into the market but are still bearing the brunt of the Reserve Bank’s loan-to-value restrictions, a new survey shows. BNZ chief economist Tony Alexander said the results of the first BNZ/REINZ survey of real estate agents for the year would be released next week.
Growth in property values slowed considerably in January, QV says, pointing the finger and loan-to-value restrictions and rising interest rates. It has released its latest statistics, which show nationwide values have increased 9.6% over the past year and 2.2% over the past three months.
There’s a mixed outlook for the property market, if ANZ’s latest Property Focus is anything to go by. The bank’s economists have issued their monthly Property Focus, reporting pressure from both directions on house prices.
Loan-to-value restrictions have the potential to affect the lifestyle property market but there is no sign of them doing so yet, the Real Estate Institute’s rural spokesman says.
There is no way of knowing how long loan-to-value restrictions might affect the housing market throughout this year, BNZ chief economist Tony Alexander says. He said house prices would continue to rise as the imbalance between demand and supply at current prices showed no sign of letting up.
The first sign of the impact of loan-to-value restrictions has been a drop in the number of listings, Quotable Value says.
A two-tier interest rate system, with higher rates for investors, would be a better option than loan-to-value restrictions, one commentator says.
New Zealand’s property market is stuck in a hiatus, trapped between strong migration and price expectations on one hand and the introduction of LVR restrictions and an impending hike in the official cash rate on the other, ANZ’s economists say.
First-home buyers are still noticeably absent from the market, the latest REINZ/BNZ survey of real estate agents shows. A net 77% of agents are seeing fewer of them in the market.
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