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Property investors “bounce back” in February: ANZ

Investors have crept back into the New Zealand market after a tough January, lender ANZ says.

Thursday, April 19th 2018, 11:14AM

by Dan Dunkley

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.”

ANZ believes LVR restrictions will continue to impact property investors. The lender says ongoing restrictions mean any new lending will be on “less-risky terms”. According to the bank, investor lending at LVRs less than 70% made up an overwhelming 87% of loans in February. This compares to roughly half of loans made in late 2014.

Overall, ANZ says the New Zealand property market has stabilised after rising in the last six months of 2017. The bank believes a “fundamental supply-demand imbalance” will support prices, but LVR restrictions and affordability constraints will “contain” the market, particularly in Auckland.

Tags: ANZ LVR

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Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.55 4.79 4.99
ANZ Special - 4.05 4.29 4.49
ASB Bank 5.80 4.44 4.69 4.89
ASB Bank Special - 3.95 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.10 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.79 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.29 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 3.95 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - 3.95 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 4.60 4.85 4.99
TSB Bank 5.80 4.45 4.69 4.99
TSB Special - 3.95 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - 4.15 4.29 4.59
Median 5.89 4.50 4.69 4.79

Last updated: 2 December 2018 8:39pm

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