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.
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