976504283
TMM - News

LVR restrictions stopped $20 bill of lending

Graeme Wheeler
Thursday 9th of June 2016

He says the restrictions have stopped about $20 billion of highly leveraged lending since they were introduced.

Before they started around 21% of lending with an LVR of over 80%, now it is down to 13%.

"We regard (these restrictions) as very successful," he said in a post-OCR announcement press conference.

He said the bank has always said that it could not fix the housing market as there are a whole lot of supply and demand dynamics which it can't influence.

Want to read the full article?

Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.

You will also be able to comment on articles on Good Returns.