Auckland property investor lending tumbles 18% in August as restrictions bite

Mon, 26 Sep 2016

By Edwin Mitson Sept. 26 (BusinessDesk) - Lending to property investors buying homes in Auckland fell 18 percent in August after the Reserve Bank imposed new lending restrictions in July. Central bank data show lending to investors in New Zealand's biggest city fell to $1.31 billion in August from $1.59 billion in July. It's the lowest month for lending to Auckland investors since January when $973 million was committed by the banks as an earlier round of loan restrictions dampened interest in the market for a couple of months. Still...

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