WELLINGTON, Nov 9 (Reuters) - Reserve Bank of New Zealand governor Grant Spencer said on Thursday that the new government's restrictions on foreign homebuyers would likely help to moderate house price inflation.
Spencer told a media conference that the new Labour government's foreign ownership ban alongside its plans to extend capital gains taxes would help the ongoing slow-down in previously red-hot house prices.
The governor said that the bank was currently reviewing the criteria for removing its loan-to-value restrictions, which it had ramped up last year to insulate banks from the risk of an overheated housing market.
