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.
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.
082124 |