The construction sector has welcomed the Reserve Bank's decision to exempt new home builds from low deposit loan restrictions, but one economist has warned of the dangers of watering down the policy.

New rules restricting low deposit home loans will now not apply to new home builds, says the Reserve Bank.

Auckland property values continue to surge ahead, up 15.2 per cent in the last year.

Westpac has today split its mortgage rates depending on whether the borrower has more or less than 20 per cent equity.

Auckland house prices rose at the rate of $677 a day in November, based on the average price increase from October to November.

Kiwis keen to sell off their homes continue to hold the upper hand in New Zealand's property market, despite a slight ease in the national asking price during November.

First-home buyers in Auckland are flocking to the west, where there are more new buyers than anywhere else in the country, latest data shows.

The house-building sector's rising fortunes have taken a tumble, with the latest Statistics New Zealand data showing the rate of increase slipping.

The share of new mortgage lending going to borrowers with low deposits halved in October, the first month in which the Reserve Bank's curbs on such loans applied.

The building industry has stepped up pressure on the Reserve Bank over its loan to value ratio (LVR) loan restrictions.

Lending restrictions are starting to ease the pressure on the property market but first-home buyers are still finding it tough as prices and interest rates creep up.

Despite the introduction of the Reserve Bank's lending restrictions, home affordability has continued to worsen according to a new report.