LVRs are not going anywhere
Evidence of the extent to which the housing market has slowed, particularly in Auckland, has been coming thick and fast of late.
This has prompted speculation from a range of sources, including the Prime Minister Bill English and Labour Party leader Jacinda Adern, that it might be time for the Reserve Bank to review its LVR rules.
However, in their weekly commentary, Westpac’s economists said today that this suggestion is premature.
They said that while the LVRs have done a lot to slow the pace of house sales, it was less clear that the restrictions are leading to dysfunction in the loan market.
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