Grant Robertson says the Government planned to "tilt the balance" toward first home buyers and wanted to incentivise new builds. Photo: Getty ImagesThe Reserve Bank has confirmed it will re-impose loan to value ratios from March 1 at 20% for first home buyers and 30% for property investors. The central banks said it is concerned about the risk a sharp housing correction could have on financial stability. A growing number of highly indebted borrowers, especially investors, were now financially vulnerable to house price corrections and disruptions to their ability to service the debt, he said. Latest data from Quotable Value showed annual house price growth of nearly 13% in 2020, with the average national house price sitting at $838,826.

Source: Otago Daily Times February 08, 2021 19:33 UTC