Business
New Zealand house prices surge, again – The Australian Financial Review
The February gains step up the pressure on the central bank to place further curbs on the booming housing market.
The central bank has already announced restrictions on mortgage lending, and loan-to-value-ratio (LVR) curbs were put back in place on March 1. From the start of this month, banks can allocate only 20 per cent of new lending to loans with an LVR of more than 80 per cent.
Over two stages, lenders can allocate a maximum of only 5 per cent of new lending to investment property borrowing, with an LVR of more than 70 per cent. On May 1, the LVR requirement will be cut to more than 60 per cent, still…
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