Property investors “bounce back” in February: ANZ
Lending to property investors rose 33% in February from January, according to a new report from the bank.
Lending to investors rose by a third after plummeting 27% from December to January. Year-on-year, investor lending has risen 1.4%, according to ANZ’s latest NZ Property Focus.
ANZ Senior economist Liz Kendall told TMM Online the February figures marked a return to more stable levels after an disproportionate dip in January. She said improved lending figures were still “much lower” than those seen in 2015/2016.
Investor lending made up just 22% of new lending, down from 34% in September 2015, according to ANZ’s data. Kendall added: “Ultimately, we think the February outturn reflects monthly volatility, with new investor lending broadly stable overall.”
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