New borrowing restrictions for house buyers considered by Reserve Bank

  • House hunters could face new restrictions on borrowing, with the Reserve Bank considering new limits linked to income.

On Wednesday the Reserve Bank signalled that while the financial system was sound overall, it was increasingly concerned by parts of the economy, including house prices, especially in Auckland.

At a press conference at the central bank’s headquarters in Wellington, Governor Graeme Wheeler said relative to income, Auckland was now among the most expensive places to buy a house in the world.

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NEVILLE MARRINER/FAIRFAX NZ
Auckland house prices are causing increasing concern for the Reserve Bank

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