Some real estate company administrators had found similar trends in Whangarei, but others said the new rules had not slowed down the city's house sales.
Barfoot and Thompson Whangarei manager Martin Dear said a lot of first-home buyers had lost pre-approval for loans through the restrictions so they were now out of the market.
His company was getting reduced buyer interest in homes priced at around $280,000 and he did not think first-home buyer participation would lift until bank policies changed to sort out loan-to-value constraints or parents topped up first-home deposits. But LJ Hooker Whangarei chief executive Paul Beazley said his firm had not felt any impact from the loan restrictions.
Real Estate Institute figures showed the 96 homes, sold for a median price of $288,000 in Whangarei in October, was the highest number sold in a month over the past four years.
Borrowing money for homes in this price range was not "over the top" like it could be in Auckland where first-home buyers could face a $500,000 mortgage to enter the market.
Mr Beazley said "other avenues" for first-home finance apart from a direct approach to banks included mortgage brokers.
Ray White Allens director Vanessa McKenzie agreed, saying some banks were still lending up to 90 per cent of house prices to mortgage broker clients who met all other loan conditions.
"People are getting cleverer at how they get their money," she said.
Ray While Allens did not keep track of first-home buyer attendance at open homes and had no evidence at present that their numbers were down in Whangarei.
Increased investor interest in under-$300,000 houses was having an impact as properties in this price bracket previously went to first-home buyers, Ms McKenzie said.
