Property investors facing a looming lending crackdown borrowed $1.8 billion in April, or a third of all new mortgages issued.

Earlier this month both the Government and the Reserve Bank announced measures to tackle property speculators, which come into force in October.

The Reserve Bank will require Auckland investors to put down a 30 per cent deposit, while forcing banks to hold more capital against the loans nationwide.

Meanwhile, the Government's move will make investment properties bought and sold within two years subject to a capital gains tax.

The latest statistics from the Reserve Bank show investors borrowed $1.8b worth of home loans in April, or 33 per cent of the total market.

First-home buyers accounted for just 10 per cent, with the balance including other owner-occupiers and businesses.

However, those new to the property market did command the lion's share of high loan-to-value ratio (LVR) loans, which are also restricted by the Reserve Bank.

-home buyers accounted for 36 per cent of the total, compared to investors at 12 per cent.

The figures also show just how effective the Reserve Bank's LVR rules have been since their introduction in October 2013.

Banks loaned $390m to borrowers with small deposits in April, down from $432m in March and a dramatic fall from $1.19b in September 2013.

The riskier loans, after exemptions, accounted for just 5.8 per cent of banks' new lending, remaining well clear of the 10 per cent limit.

Banks face strict penalties for breaching the rules and have set their internal buffers accordingly.