Dawn chorus: Landlords borrow big
RBNZ figures show landlords borrowed $4.3b in month of December while first home buyers borrowed $1.7b; ANZ stops taking online mortgage applications to stem flood of demand
TLDR: Morena. Reserve Bank figures show 45% of the $9.6b of new lending into the housing market in the month of December was to landlords, while just $1.7b went to first home buyers. Demand for mortgages is so strong ANZ has stopped taking online applications and BNZ will only deal with existing customers. The LVR restrictions can’t come soon enough.
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