A group representing New Zealand’s property valuers says introducing debt to income limits for mortgage lending would damage the Auckland housing market and New Zealand’s economy.

“The number of new homes being built – the very thing that Auckland needs most – would plunge as the number of people earning enough to buy them would dwindle to a trickle.
So the policy could very well kill off the one thing that can fix the Auckland housing crisis – the construction of new homes”.
Church said if that rule was applied here it could limit a typical Auckland family to a mortgage of less than $400,000.
The Reserve Bank is worried that continued growth in high debt to income lending would threaten the resilience of New Zealand’s banks if there is a down-turn.
Read more here: NZ Herald – Property valuers hit back at mortgage debt clamp-down tool