Bank eyes curbs on speculators
Thursday Nov 13, 2014
The Governor hints at measure to tackle property investors as he sticks to guns on LVR restrictions
The Reserve Bank is eyeing measures to discourage speculators from buying multiple houses as it acknowledges its loan-to-value ratio (LVR) restrictions have favoured investors over first-home buyers.
Appearing before MPs at Parliament yesterday, RBNZ governor Graeme Wheeler acknowledged “the issue is also around people who invest and buy multiple houses”.
“We have been thinking quite deeply about whether we need to introduce measures to discourage some of those practices”, he said.