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ANZ tightens lending to property investors to help bring balance to property market © RNZ / Nate McKinnon © Provided by Radio New Zealand Generic exteriors of ANZ office Photo: RNZ / Nate McKinnon ANZ says it will now require residential property investors to have at least a 40 percent deposit, up from from the current 30 percent. There are no changes to deposit requirements for other residential buyers, including first home owners. ANZ managing director personal Ben Kelleher said the current rules favoured investors over first home buyers, and the change is a way to bring some balance back into the market. Escalating property prices are putting home ownership out of reach for many Kiwis. The current settings favour property investors particularly over first home buyers, potentially locking a generation of New Zealanders out of home ownership.

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