Generally, when you buy an owner occupied home you can lend up to 80% of the property value. Up until recently, if you buy an investment property, you could lend up to 60% of the property value (and would need a 40% deposit). These are called LVR restrictions (Loan to Value) and are in place to limit high risk mortgage lending to increase resilience in the financial system ie. reduce risk.
Here is the good news.... current loan to value ratios (LVRs) that were put in place in November 2021 when there were more risks are now easing off.
So what has recently changed....
Restrictions can now be eased now that house prices have fallen towards a level that is more consistent.

RBNZ: "We are proposing to ease LVR restrictions with effect from 1 June 2023, from:
10% limit for loans with LVR above 80% for owner occupiers, and
5% limit for loans with LVR above 60% for investors.
To:
15% limit for loans with LVR above 80% for owner occupiers, and
5% limit for loans with LVR above 65% for investors."
We know that test rates and interest rates have been climbing but this may be the start of the changes we have all been looking for.