The new rules have really only affected second time buyers

From the Central Bank research, there has been no difference in the LTV and LTI of loans to first time buyers approved before the regulations came into force and approved after the regulations came into force. Letter - Vol 2016, No. 3.pdf

But there have been significant differences for second time buyers


The difference may actually be understated because a lot of second time buyers may have put off the idea of trading up due to the new rules.