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upper hutt real estate

Tommy's top Hutt Valley agent from 2006 to 2019

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How do LVR changes affect Upper Hutt real estate?

upper hutt where everythings included

Hi folks,

Finally the Reserve bank is easing the Loan Value Restrictions (LVRs) after being put in place originally in October 2013. They were designed to take the heat of a fast rising real estate market, unfortunately it was only fast rising in Auckland. They were relaxed at the end of 2014 and reinstated in October 2016.

There was however a teeny tiny problem that the Bank did not foresee, once finance was restricted it seemed to hit first time buyers particularly hard.

Back in 2014 in Upper Hutt, a buyer looking to purchase a property costing $350,000 had to have $70,000, prior to LVR in 2013 the banks weren’t exactly giving money away, a 10% deposit was still required, in this case $35,000.

Fast forward to 2017 and the same property is now $450,000 meaning a $90,000 deposit, thank goodness for Kiwisaver is all I can say there. So finally the LVRs are being relaxed but only for another 5% of buyers. The banks can now lend under 20% deposit to 15% of their “book” instead of to 10%.

Obviously being a real estate agent I’m biased and would have preferred to see the LVRs scrapped but that would only create huge growth in a short space of time, however I do think more could be done to help first time buyers while keeping the LVR in place for investors.

lower lvrs

If you are thinking of selling your home, would like an appraisal, or want more information on the Upper Hutt property market please call me on the numbers below or contact me via email alternately fill in your details here on my website.


Kind regards,
Steve Slicker

(04) 212 6787
0275 661 949


Steve Slicker, Upper Hutt Real Estate

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If you are considering selling your property in any of the suburbs below, please call or email Steve

  • Akatarawa
  • Birchville
  • Blue Mountains
  • Brown Owl
  • Clouston Park
  • Ebdentown
  • Elderslea
  • Heretaunga
  • Kaitoke
  • Kingsley Heights
  • Mangaroa
  • Maoribank
  • Maymorn
  • Moonshine Valley
  • Mount Marua
  • Pakuratah
  • Pinehaven
  • Plateau
  • Riverstone Terraces
  • Silverstream
  • Te Marua
  • Timberlea
  • Totara Park
  • Trentham
  • Upper Hutt Central
  • Wallaceville
  • Whitemans Valley