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House buying more difficult (From the press)

ANZ National this week doubled the deposit required for mortgage lending from 10 to 20 per cent, meaning Christchurch property buyers will need to save $62,000 to be able to make an offer on a $310,000 house the region's median price.Deposits are even higher for buyers in Auckland and Wellington.

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Next cut may be deepest for OCR ( from NZ Herald)

It is a sign of the perilous times that the question dividing market economists about Thursday's official cash rate review is whether the Reserve Bank will cut by a record-equalling 100 basis points or an even more emphatic 150.

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