The long weekend has seen an unexpected frenzy of new house buyers and investors, since LVRs came off earlier last year

But the Reserve Bank is mulling over their re-introduction, with prices expected to rise by up to 12 percent by next June.

Owner of Century 21 Derryn Mayne says scrapping LVRs has enabled more young Kiwis to buy their first homes.

She says some first home buyers could be taken out of the market for years, if high deposits are added back in.