"There is some merit in rolling back to [LVR] restrictions."
He could not say if the changes should come into effect immediately.
"If it [Reserve Bank] did wait until May next year it would risk letting the cat out of the bag ... and the housing boom would get a little bit further away from us."
But, he said, the Reserve Bank should ensure the returning of LVR did not interfere with the mortgage holiday scheme.
Yesterday, Infometrics senior economist Brad Olsen said the state of the property market was exacerbating inequality where prices were on the rise as people continued to lose jobs.