Talk Money: July 21
The Reserve Bank's move to toughen up the rules for property loans looks like it will drive some investors from the market.
A survey by Horizon Research has found 22 percent of those who were definitely going to buy an investment property during the next 12 months say they will no longer buy one once the deposits go above 30 percent.
The survey was conducted just before the Reserve Bank announced it wants to toughen up the deposit rules for investors.
Although it is technically just a proposal at this point Westpac has already announced it will no longer consider loan applications from investors with deposits of less than 40 percent.