In October 2024, the value of residential mortgage loans taken out to purchase or build a property in New Zealand amounted to around 4.66 billion New Zealand dollars. That year, the majority of residential mortgage lending went to owner-occupiers where the property was not their first home.
Monthly residential mortgage lending value in New Zealand in October 2024, by loan purpose
(in million New Zealand dollars)
One New Zealand dollar is equal to approximately 0.59 U.S. dollars and 0.56 euros (as of December 2024).
Top ups refers to increases in lending to an existing residential mortgage loan where the underlying security has not changed but may be revalued and/or additional security may be provided.
Property purchases refers to residential mortgage loans taken out to purchase or build a property. This includes for example, first home buyers, other owner occupiers who purchase a second property and investors.
Changes in loan provider refers to residential mortgage loans taken out to refinance an existing residential mortgage from another bank or non-bank lender, regardless of whether the value of the loan has changed during the transfer.
Other refers to residential mortgage commitments that do not meet the definitions for top-ups, property purchases, or changes in loan provider. For example, the use of an unencumbered property as security for a new loan, regardless of the loan purpose.
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Reserve Bank of New Zealand. (November 27, 2024). Monthly residential mortgage lending value in New Zealand in October 2024, by loan purpose (in million New Zealand dollars) [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1445449/new-zealand-residential-property-financing-by-loan-purpose/
Reserve Bank of New Zealand. "Monthly residential mortgage lending value in New Zealand in October 2024, by loan purpose (in million New Zealand dollars)." Chart. November 27, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1445449/new-zealand-residential-property-financing-by-loan-purpose/
Reserve Bank of New Zealand. (2024). Monthly residential mortgage lending value in New Zealand in October 2024, by loan purpose (in million New Zealand dollars). Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1445449/new-zealand-residential-property-financing-by-loan-purpose/
Reserve Bank of New Zealand. "Monthly Residential Mortgage Lending Value in New Zealand in October 2024, by Loan Purpose (in Million New Zealand Dollars)." Statista, Statista Inc., 27 Nov 2024, https://www.statista.com/statistics/1445449/new-zealand-residential-property-financing-by-loan-purpose/
Reserve Bank of New Zealand, Monthly residential mortgage lending value in New Zealand in October 2024, by loan purpose (in million New Zealand dollars) Statista, https://www.statista.com/statistics/1445449/new-zealand-residential-property-financing-by-loan-purpose/ (last visited December 22, 2024)
Monthly residential mortgage lending value in New Zealand in October 2024, by loan purpose (in million New Zealand dollars) [Graph], Reserve Bank of New Zealand, November 27, 2024. [Online]. Available: https://www.statista.com/statistics/1445449/new-zealand-residential-property-financing-by-loan-purpose/
