The Reserve Bank's revamped lending restrictions to attempt to cool the Auckland housing market take effect today.
From 1 November property investors need a deposit of at least 30 percent if seeking a bank loan for a house in the Auckland market.
The requirement for a higher deposit is aimed at curbing the impact of investors on prices and reducing risky bank lending, to try keep a lid on house price inflation in Auckland.
Banks will still be limited to no more than 10 percent of their lending in the Auckland region to owner-occupiers who have a lower than 20 percent deposit for a house.
Elsewhere in the country, that restriction is being eased to 15 percent.
Real Estate industry commentators have said the revamped rules may have some impact, but the problem remains one of too many people chasing too few houses.