| Latest Political News | Monday May 14 2012 10:18
The Prime Minister says it would be virtually impossible to require banks to demand a 20 percent deposit on houses.
There's talk the Reserve Bank wants to set a minimum house deposit level.
John Key says it's very difficult to regulate the sector because people could borrow from their lawyers or another source.
This is his response to whether he'd be happy for the Reserve Bank to make banks ask for a 20 percent deposit.
"That would be one way of slowing the market down. I suspect you're responding to something they'd like to see rather than something they've come and asked us to do."
Photo: NZ Herald
John Key |