There's a call for the Government to change the rules around house lending, to coincide with a change at the top of the Reserve Bank.

The bank's Governor Graeme Wheeler will be stepping down next month.

Property Institute chief executive Ashley Church told Rachel Smalley policies like the Loan to Value Ratio regulations have damaged the housing market.

"In particular, they've had the effect of slowing down what would have otherwise been the construction of new dwellings, which is something that has been badly needed in Auckland."

Church said the LVRs have also made it nearly impossible for first-home buyers to buy their own home.

He said some would say the market is due for a massive correction, but he said there's no evidence of that.

"The market in New Zealand's remarkably consistent, remarkably predictable - it increases, it settles, it increases, it settles."

LISTEN ABOVE AS ASHLEY CHURCH SPEAKS WITH RACHEL SMALLEY