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Has NZ locked first time buyers out of the property market?

Has NZ locked first time buyers out of the property market?

The Reserve Bank of New Zealand has been accused of stifling first home buyers’ chances of getting into the property market by reducing the owner-occupier LVR to 80 per cent. 

Kiwi investors must now have a deposit of 20 per cent of their desired owner-occupier property value to qualify for a loan, a change the Property Institute of New Zealand stresses will have unfair ramifications for young first-time buyers. 

istock_75047717_medium-compressor The median property price in Auckland is now above $1m.

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