RBNZ: First home buyers are returning to the housing market in force

Dhwani Mehta FXStreet

According to the latest lending by borrower type figures from the Reserve Bank of New Zealand (RBNZ), the first home buyers appear to be picking up the slack in the market being left by investors after the introduction of the RBNZ's new 40% deposit rule for investors in October.

The figures show that in November first home buyers borrowed $897 million to get houses, with the amount they collectively borrowed making up 14.1% of the $6.349 billion advanced by lenders during the month.

It is the biggest monthly tally borrowed by FHBs since the RBNZ began reporting these figures in August 2014, intereset.co.nz reports in an article published last hour.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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