The Reserve Bank governor Graeme Wheeler says the LVR( Loan to value Ratio) restrictions introduced by the bank have been “very successful”.

He says the restrictions have stopped about $20 Billion of highly leveraged lending since they were introduced.

Before they started around 21% of lending was  with an LVR of over 80%, now it is down to 13%.

Wheeler said further LVR changes for investors is one of the scenarios the Reserve Bank is currently looking at.

According to the bank property investors account for 46% of lending in Auckland and around 40% in the rest of the country.