Condemnation of the Reserve Bank's latest change to mortgage rules.

The central bank has confirmed it's going ahead with plans to introduce "debt to income" restrictions, preventing home buyers from borrowing more than six times their pre-tax income.

The changes will be partially offset by the easing of LVR restrictions, to allow for more low-deposit lending.

But property commentator Ashley Church told Mike Hosking that the restrictions are a mistake that will be reversed within three years.

He says this will be the "stupidest" move the Reserve Bank has ever made and will "screw up" the housing market at a time when it should be recovering.

LISTEN ABOVE

Condemnation of the Reserve Bank's latest change to mortgage rules. 
The central bank has confirmed it's going ahead with plans to introduce "debt to income" restrictions, preventing home buyers from borrowing more than six times their pre-tax income. 
The changes will be partially offset by the easing of LVR restrictions, to allow for more low-deposit lending. 
But property commentator Ashley Church told Mike Hosking that the restrictions are a mistake that will be reversed within three years. 
He says this will be the "stupidest" move the Reserve Bank has ever made and will "screw up" the housing market at a time when it should be recovering. 
LISTEN ABOVE

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...