The Reserve Bank of New Zealand have ...
- published a summary of submissions and final policy positions in regards to changes in the Loan to Value Ratio restriction rules (LVRs), and the asset classification of residential property investment loans in the Capital Adequacy Framework.
- Announced in May
- RBNZ is altering existing LVR rules to focus on rental property investors in the Auckland region
- The new rules will become effective on 1 November
More detail at the RBNZ website on the rules etc. Theye are intended to slow down house price increases in Auckland, where price appreciation has been most concentrated.
(Note .... that Nov. 1 start date is a delay of one month from the start date originally announced. Maybe they wanted to get Halloween out of the way first).
And ...
- Deputy Governor Grant Spencer will expand on the Reserve Bank's view of the property market in a speech on Monday 24 August.
Note ... it's a 'private event' (if you're invited, let us know!)
But ... text of the speech will be published at 1:30pm (NZ time) on Monday, 24 August (that's be 0130GMT)
