Tony Alexander: Economist says Reserve Bank crackdown on low-deposit lending not very worrying
Aug 3, 2021 ·
3m 15s
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Description
There's surprise the Reserve Bank is looking to crack down on low deposit lending. The bank wants to halve the number of people borrowing more than 80 percent of the...
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There's surprise the Reserve Bank is looking to crack down on low deposit lending.
The bank wants to halve the number of people borrowing more than 80 percent of the property's value, by cutting the number to ten percent.
It could be in place from October.
Independent economist, Tony Alexander, told Mike Hosking he doesn't think the increase in low deposit lending is all that worrying.
“It was still only 9.6 percent of housing lending, so already below the 10 percent limit there. Maybe it’s just the trend that’s been going up, especially to first home buyers over the past three to four months.”
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The bank wants to halve the number of people borrowing more than 80 percent of the property's value, by cutting the number to ten percent.
It could be in place from October.
Independent economist, Tony Alexander, told Mike Hosking he doesn't think the increase in low deposit lending is all that worrying.
“It was still only 9.6 percent of housing lending, so already below the 10 percent limit there. Maybe it’s just the trend that’s been going up, especially to first home buyers over the past three to four months.”
LISTEN ABOVE
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