NZ housing credit growth slows as central bank lending curbs bite

Thu, 22 Dec 2016

By Rebecca Howard Dec. 22 (BusinessDesk) - Housing credit growth continued to lose momentum in November, according to fresh figures from the Reserve Bank of New Zealand, as the latest investor loan-to-value ratio (LVR) restrictions look to be weighing on borrowing. Record migration and low interest rate have bolstered the country's housing market, prompting the RBNZ to tighten up lending rules to reduce the risk to the nation’s financial stability. New restrictions on lending to property investors with high LVRs came into play Oct. 1....

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