THE CHART: Property investors fill their boots in March

Borrowing by investors was up 76% in March compared to the same time last year.

Tue, 04 May 2021

With the return of stricter loan-to-value ratios (LVRs) imminent, investors and first home buyers piled into the residential property market in March.Figures released by the Reserve Bank show $10.5 billion in residential mortgage lending was approved in March, up from $7.6b in February.Compared to the same month in 2020, residential lending was up by 70%.Investors increased their total borrowing by 76% compared to March 2020, while first home buyer lending was up by a more restrained 56%.March could be the last hurrah of an extraordinary and u...

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Markets Market close

NZ sharemarket celebrates highest single-day rise in over five months

Graham Skellern 6:15pm

Politics

Media react to Melissa Lee sacking

The sector is keen to work with new minister Paul Goldsmith amid its financial crisis.

Daniel Dunkley 5:10pm

Politics

Govt reshuffle: Lee demoted, Simmonds loses portfolio

Melissa Lee has been stripped of her media and communications portfolio and dropped from the cabinet, prime minister Christopher Luxon announced today.He has given Paul Goldsmith the portfolio after Lee was widely criticised over her public handling of the numerous issues facing...

Staff reporters 1:20pm