MyValocity reports that the RBNZ's LVR restrictions are biting especially on investors, along with low listing levels. But FHBs are doing more deals in Auckland
New figures released by myvalocity for September show the number of new residential mortgage registrations has declined nationally by 21% on the same time last year – further reinforcing the view the market is beginning to soften.
Regionally, Auckland saw the largest reduction in the number of new mortgage registrations – down 26.2% on the same time last year. The North Island’s metro centres were also down 15.6% compared to September 2015.
Wellington and the South Island metro centers buck the downward trend with growth in the number of mortgages of 2.8% on the same time last year.