- 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.
* 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