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  • Desperate buyers wanting to break into the housing market may be forced to turn to alternative lenders due to the tougher rules for banks.

Purchasing a property has become increasingly difficult with prices soaring across the country.

The cost of a Hamilton home shot up 31.5 per cent in value for the year to July and 8.9 per cent in the past three months according to the latest QV statistics.

The average value in Hamilton reached $513,094.

READ MORE:
* Reserve Bank property investor lending restrictions explained
* Hamilton house prices soar
* House prices climb $3K a week, rising at fastest rate since 2004
* Raglan’s rental rates tipped to rise as demand outstrips supply

Lenders

WAIKATO TIMES
ANZ chief economist Cameron Bagrie said the “extreme” restrictions on banks for lending could drive buyers to options outside of the regulated industry, which could be risky.

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