A Horizon Research Poll has found almost 40% of New Zealanders would oppose a Reserve Bank limit blocking mortgages with a loan to value ratio of over 80%.
However, the poll also showed almost as many respondents approved of the limits.
The poll of 2,265 adults nationwide found 39.1% disapproved of a RBNZ limit on LVRs above 80%, while 36.6% approved and 24.4% were not sure.
The poll also found that 50.8% approved of the RBNZ's plans to increase capital requirements for such high LVR lending by New Zealand's four biggest banks, while 18.3% disapproved and 30.9% were not sure.
Opposition to a limit on high LVR mortgages among the age groups was strongest among 45-54 year olds with 48.8% opposed. Those with income of NZ$150,000 to NZ$200,000 were most opposed among the income groups, with 55.5% opposed.
By occupational group, disapproval was highest among labourers, agricultural and domestic workers (61.2%), teachers, nurses, police and other trained service workers (59.5%), business managers and executives (58.2%) and homemakers not otherwise employed (54.5%).
Approval for such limits on high LVR mortgages was highest among those aged 55+ and retired superannuitants (49.7% approve, 13.6% disapprove).
Horizon said many respondents to the poll said high LVR limits would have severe impacts on home buyers.
"Many complained it would delay or end their intention to buy," Horizon aid.
"Others complained they were not on a level playing field: that overseas buyers were borrowing at lower interest rates offshore – and bidding prices up on the New Zealand market."
The RBNZ has already ordered the big four banks to hold more capital on high LVR mortgages, but has yet to decide on how to limit high LVR lending.
It has indicated a preference for 'speed limits' on such lending, which would put the onus on limiting such lending on the banks themselves, ordering them to limit a certain percentage of their overall or new lending to such loans.
Prime Minister John Key has indicated first home buyers could be 'carved out' of the limits, but the Reserve Bank has downplayed that idea.
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