More young house buyers inquiring about mortgages

New Zealand's largest credit reference agency says young house buyers are inquiring about mortgages at levels not seen in seven years.

Data from Veda says inquiries for mortgages from Generation Y buyers increased by more than 50 per cent in August, compared with the same month last year.

Managing director John Roberts thinks it's evidence first home buyers have been shopping around, before new low-equity home lending restrictions come into force next month.

The restrictions limit the number of home loans banks can give to people with less than a 10 per cent deposit.

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