The news isn't all bad for prospective first home buyers.

The Reserve Bank has confirmed major changes to mortgage rules from July, which will prevent most owner-occupiers from borrowing more than six times their pre-tax income.

It's also signalling it will keep the Official Cash Rate unchanged at 5.5% for the rest of the year.

Key Mortgages broker Jeremy Andrews told Mike Hosking that at the same time, the Reserve Bank is loosening LVR restrictions to allow for more low-deposit lending.

He says the changes could actually help many first home buyers.

LISTEN ABOVE

The news isn't all bad for prospective first home buyers. 
The Reserve Bank has confirmed major changes to mortgage rules from July, which will prevent most owner-occupiers from borrowing more than six times their pre-tax income. 
It's also signalling it will keep the Official Cash Rate unchanged at 5.5% for the rest of the year. 
Key Mortgages broker Jeremy Andrews told Mike Hosking that at the same time, the Reserve Bank is loosening LVR restrictions to allow for more low-deposit lending. 
He says the changes could actually help many first home buyers. 
LISTEN ABOVE

Open your mind to the world with New Zealand’s number one breakfast radio show.

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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, 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,...

The Mike Hosking Breakfast

Jeremy Andrews: Key Mortgages Broker on the Reserve Bank's changes to debt-to-income ratios

I'm immeasurably uplifted by some Trade Me data. 

Could it be we are finally getting the message on rural or provincial New Zealand? 

Job data increasingly shows we're looking to the regions for work. 

More people (68%) are prepared to move, supposedly. Always be careful of surveys because what people say versus what they do doesn’t always equate. 

But at least some of the 68% must actually pull the trigger. 

There has been a 12% month-on-month search increase in job ads. 

The likes of New Plymouth is up 40%, Invercargill is up 37%, and Palmerston North is 23%. 

I have said for years, if you can do what you do anywhere, why would you do it in a place you can't afford to live in? 

A lack of money makes life miserable. It limits choices, makes us stressed, and closes financial doors. 

Too many people are stuck in places like Auckland. Auckland is disproportionately large and the salaries that this country pays, on average, do not support a decent life in a place like Auckland, or Queenstown, or possibly even a large slice of the Bay of Plenty. 

But there are a lot of jobs where the wage is the same no matter what the location. 

In fact, one of the most glaring pieces of intel is your average wage and it's broadly the same in most places in the country. It's a little higher in Wellington because of the public service, but overall, between $70,000-80,000 is where we sit on average. 

You don’t need to be a rocket scientist to know that if, as a couple, you earn two lots of $70,000-ish a year, $140,000-ish together, it goes a hell of a lot of further in Nelson than it does in Auckland or Queenstown. 

The house on the West Coast is nothing like the north of the country. This land is festooned with amazing provincial cities that have a lot of the big city access and choices. 

Even Christchurch, which is booming, is still comparatively affordable and by the time you get to small town New Zealand you are rolling in it in your $500,000 house, no commute, later get-up, less stress, and all the while doing the same job. 

So I hope the stats are real and the move is on. There is a lot of New Zealand that has never been fully utilised or appreciated. 

If your lot is too hard, move. You won't know yourself. 

I'm immeasurably uplifted by some Trade Me data.&nbsp;
Could it be we are finally getting the message on rural or provincial New Zealand?&nbsp;
Job data increasingly shows we're looking to the regions for work.&nbsp;
More people (68%) are prepared to move, supposedly. Always be careful of surveys because what people say versus what they do doesn’t always equate.&nbsp;
But at least some of the 68% must actually pull the trigger.&nbsp;
There has been a 12% month-on-month search increase in job ads.&nbsp;
The likes of New Plymouth is up 40%, Invercargill is up 37%, and Palmerston North is 23%.&nbsp;
I have said for years, if you can do what you do anywhere, why would you do it in a place you can't afford to live in?&nbsp;
A lack of money makes life miserable. It limits choices, makes us stressed, and closes financial doors.&nbsp;
Too many people are stuck in places like Auckland. Auckland is disproportionately large and the salaries that this country pays, on average, do not support a decent life in a place like Auckland, or Queenstown, or possibly even a large slice of the Bay of Plenty.&nbsp;
But there are a lot of jobs where the wage is the same no matter what the location.&nbsp;
In fact, one of the most glaring pieces of intel is your average wage and it's broadly the same in most places in the country. It's a little higher in Wellington because of the public service, but overall, between $70,000-80,000 is where we sit on average.&nbsp;
You don’t need to be a rocket scientist to know that if, as a couple, you earn two lots of $70,000-ish a year, $140,000-ish together, it goes a hell of a lot of further in Nelson than it does in Auckland or Queenstown.&nbsp;
The house on the West Coast is nothing like the north of the country. This land is festooned with amazing provincial cities that have a lot of the big city access and choices.&nbsp;
Even Christchurch, which is booming, is still comparatively affordable and by the time you get to small town New Zealand you are rolling in it in your $500,000 house, no commute, later get-up, less stress, and all the while doing the same job.&nbsp;
So I hope the stats are real and the move is on. There is a lot of New Zealand that has never been fully utilised or appreciated.&nbsp;
If your lot is too hard, move. You won't know yourself.&nbsp;

Mike's Minute: We are finally utilising the whole country

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f7f59b21-0891-47fc-a3a7-b4570167b18e/transcript

Christchurch-based singer-songwriter Lee Martin is yet another example of the incredible talent produced in New Zealand. 

She’s a highly acclaimed musician, both here and around the world, with multiple awards, millions of streams, and sold-out performances under her belt. 

And soon Martin will be releasing her fourth album, Marlene, coming out mid-July.  

“I think this is probably my best work yet,” she told Mike Hosking. 

“I was listening to some of my old songs last night, and I’m like, there’s a massive change and a massive shift – so yeah, I am very proud of it.” 

The shift is not only sonic, but stems from a change in Martin’s own mindset when it comes to the creation of her art.  

“I think I’m being a little bit more true to my own sound,” she explained. 

“I’m less shaped by producers or external factors – I'm kind of just doing what I really want to do.”  

In the past, Martin admits to chasing approval when it comes to her sound. 

“I was so, you know, desperate for, I don’t know, some kind of success.” 

But as she’s grown both as a person and an artist, she’s stopped caring quite so much about if others think she’s going down the right path. 

“I just want to put out my music, and I just want it to be what it is,” she told Hosking. 

“I don’t want to just shape and form towards, you know, to what other people are expecting.”  

LISTEN ABOVE 

Christchurch-based singer-songwriter Lee Martin is yet another example of the incredible talent produced in New Zealand.&nbsp;
She’s a highly acclaimed musician, both here and around the world, with multiple awards, millions of streams, and sold-out performances under her belt.&nbsp;
And soon Martin will be releasing her fourth album, Marlene, coming out mid-July. &nbsp;
“I think this is probably my best work yet,” she told Mike Hosking.&nbsp;
“I was listening to some of my old songs last night, and I’m like, there’s a massive change and a massive shift – so yeah, I am very proud of it.”&nbsp;
The shift is not only sonic, but stems from a change in Martin’s own mindset when it comes to the creation of her art. &nbsp;
“I think I’m being a little bit more true to my own sound,” she explained.&nbsp;
“I’m less shaped by producers or external factors – I'm kind of just doing what I really want to do.” &nbsp;
In the past, Martin admits to chasing approval when it comes to her sound.&nbsp;
“I was so, you know, desperate for, I don’t know, some kind of success.”&nbsp;
But as she’s grown both as a person and an artist, she’s stopped caring quite so much about if others think she’s going down the right path.&nbsp;
“I just want to put out my music, and I just want it to be what it is,” she told Hosking.&nbsp;
“I don’t want to just shape and form towards, you know, to what other people are expecting.” &nbsp;
LISTEN ABOVE&nbsp;

Lee Martin: Kiwi singer-songwriter talks musical development, upcoming album 'Marlene'

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/81bc1649-05d3-4046-8a0a-b4570164aba9/transcript

On the Mike Hosking Breakfast Full Show Podcast for Thursday 28th of May, it's Budget Day, so we did a quickfire round with four of the biggest and most expectant sectors. 

Reserve Bank Governor Dr Anna Breman talks about being the defining vote in holding our Official Cash Rate. 

Kiwi singer Lee Martin tells us about her music journey and gives a performance of the latest single from her upcoming album.   

Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts. 

LISTEN ABOVE 

On the Mike Hosking Breakfast Full Show Podcast for Thursday 28th of May, it's Budget Day, so we did a quickfire round with <a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/luke-bradford-nick-leggett-steve-mccracken-and-katherine-rich-industry-leaders-key-hopes-for-budget-2026/">four of the biggest and most expectant sectors</a>.&nbsp;
<a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/anna-breman-reserve-bank-governor-unpacks-the-decision-to-hold-the-official-cash-rate-at-225/">Reserve Bank Governor Dr Anna Breman</a> talks about being the defining vote in holding our Official Cash Rate.&nbsp;
<a href="https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/lee-martin-kiwi-singer-songwriter-talks-musical-development-upcoming-album-marlene/">Kiwi singer Lee Martin</a> tells us about her music journey and gives a performance of the latest single from her upcoming album. &nbsp;&nbsp;
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.&nbsp;
LISTEN ABOVE&nbsp;

Full Show Podcast: 28 May 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/6b638423-a9d6-4000-bc04-b457015d6efc/transcript

Jeremy Andrews: Key Mortgages Broker on the Reserve Bank's changes to debt-to-income ratios

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