Will banks lend on homes in the Club Zones?

Will banks lend on homes in the Club Zones?

A:

Of course! The Club Zone houses will be far cheaper than the equivalent house outside the zone. For example with the Auckland median house price now nearly $900K and a good 3 bedroom Club Zone house costing around $300K then the banks will have far better security over the lower priced house. And of course banks lend against used houses which often don't comply to any standards at all. 

The problem may well be that the overpriced townhouses and apartments will find financing difficult. 

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