UPDATE: RBNZ takes aim at Auckland property investors with new lending restrictions

Tue, 12 May 2015

(Adds comment from governor Wheeler, economist) By Paul McBeth May 13 (BusinessDesk) - The Reserve Bank will target Auckland property investors with new lending restrictions as it looks to take the heat out of the property market in the country’s biggest city, which it sees as a key risk to the nation’s financial system. The bank intends in October to introduce new limits on lending to property investors in the Auckland Council area that would require those borrowers to have at least a 30 percent deposit, it said in its six-monthly fin...

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