Aucklanders need $200k deposits

Demands are growing for first-home buyer house lending restrictions to be relaxed, with one real estate agency boss saying Aucklanders now needed an average $200,000-plus deposit to buy their first home.

Barfoot & Thompson’s Peter Thompson, the Real Estate Institute and Century 21 national manager Geoff Barnett want Reserve Bank lending limits scrapped for newbie buyers and TailRisk Economics principal Ian Harrison has released a new report on proposed debt to income limits.

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