|Jun 2019||Jun 2020||Feb 2021||Mar 2021||Apr 2021||May 2021||Jun 2021|
|Total new commitments ($m)|
|Total new commitments||5,441||5,364||7,601||10,487||8,486||8,920||8,526|
|LVR above 80%||566||651||591||842||718||832||816|
|LVR above 70%||2,426||2,532||3,172||4,185||3,429||3,646||3,462|
|LVR above 60%||3,732||3,752||4,966||6,528||5,312||5,452||5,195|
|Commitments with investment property collateral ($m)|
|Total commitments with investment property collateral||2,016||1,981||3,332||4,285||3,172||3,025||2,842|
|LVR above 80%||10||10||6||14||10||4||7|
|LVR above 70%||429||495||808||701||453||389||345|
|LVR above 60%||1,193||1,222||1,906||2,008||1,448||1,200||1,130|
|Exemptions for commitments with investment property collateral ($m)|
|Exemptions for commitments with investment property collateral1||609||-||-||1,134||869||1,306||1,252|
|LVR above 80%1||6||-||-||7||9||4||7|
|LVR above 70%1||421||-||-||602||432||376||338|
|LVR above 60%1||558||-||-||1,037||779||1,166||1,116|
|Commitments without investment property collateral ($m)|
|Total commitments without investment property collateral||3,425||3,384||4,269||6,203||5,313||5,894||5,683|
|LVR above 80%||556||640||585||828||708||828||809|
|LVR above 70%||1,996||2,037||2,364||3,484||2,976||3,257||3,117|
|LVR above 60%||2,539||2,530||3,060||4,521||3,864||4,252||4,066|
|Exemptions for commitments without investment property collateral ($m)|
|Exemptions for commitments without investment property collateral1||338||-||-||522||434||508||503|
|LVR above 80%1||153||-||-||191||145||173||180|
|LVR above 70%1||225||-||-||317||234||284||278|
|LVR above 60%1||271||-||-||400||311||376||364|
|New commitments by region ($m)|
|Auckland commitments with investment property collateral||975||939||1,592||1,953||1,505||1,393||1,331|
|Auckland commitments without investment property collateral||1,504||1,348||1,942||2,766||2,385||2,720||2,593|
|Non-Auckland commitments with investment property collateral||1,041||1,042||1,740||2,332||1,667||1,632||1,512|
|Non-Auckland commitments without investment property collateral||1,921||2,035||2,326||3,436||2,929||3,174||3,090|
The table shows data from the monthly loan-to-valuation ratio (LVR) survey that is completed by registered banks in New Zealand.
Registered banks provide data on new residential mortgage lending commitments during a reference month with a breakdown by LVR. Committed lending in the monthly LVR survey are finalised offers to customers to provide mortgage loans or to increase the loan value of an existing mortgage loan, as evidenced by the loan documents provided to the borrower.
Registered banks also report residential mortgage commitments that are exempted when calculating compliance with speed limits when LVR restrictions are in place.
Exempted lending categories include lending made under Housing New Zealand’s Welcome Home Loans scheme, refinancing of an existing high-LVR loan, bridging finance or the ‘porting’ of a high-LVR loan between properties. Starting 1 October 2013, qualifying construction loans became an exempted lending category. Starting 1 November 2015, property remediation loans, loans granted in error and loans that qualify for the combined collateral exemption became exempted lending categories. Note the combined collateral exemption only applies to Auckland property investor lending.
Data is published eighteen working days after the end of the reference period.
The Statistics Release Calendar provides a long-term plan of scheduled releases. It is updated and released on the first working day of the month.
View the Statistics Release Calendar
Data is collected under Section 36 of The Reserve Bank of New Zealand Act 1989 (The Act).
Read the Reserve Bank of New Zealand Act 1989.
The Reserve Bank of New Zealand publishes only aggregated data. Individual institutional data is confidential.
Provisional data are italicised. Data are deemed provisional when a series is under review. New data, or revised data, are in bold font. This applies to the summary table only and not excel files. Revisions are generally published when the table is next due to be updated and released. Should revisions need to be made more promptly, a special note is posted on the website. Any major changes in methodology will be posted as a special note.
A list of registered banks is available.
Total value of monthly committed residential mortgage loans, which are finalised offers to customers to provide mortgage loans or to increase the loan value of an existing mortgage loan, as evidenced by the loan documents provided to the borrower.
Commitments with investment property collateral, as per BS19 and BS2A/B (Property-investment residential mortgage loans). This differs from the “Borrower Type” (Investor) data in tables C31 and C32. See the C32 Advisory Note for further details.
Commitments without investment property collateral, as per BS19 and BS2A/B (non property-investment residential mortgage loans).
Exemptions are defined as borrowing to build a new home, for non-routine repair work (e.g. fixing leaky homes) on existing properties, bridging finance, refinancing of existing loans, shifting loans from one property to another (provided the total value of the loan does not increase) and loans made under the Housing New Zealand Mortgage insurance scheme (including Welcome Home Loans).
New commitments for Auckland and non-Auckland region. Where “Auckland” is defined as the area within the boundaries of Auckland as prescribed by the Local Government (Auckland Boundaries) Determination 2010 (as amended or replaced from time to time).
Auckland commitments with investment property collateral is defined as an investment property residential mortgage loan that is secured against at least one Auckland investment property.
Limits on high loan-to-valuation ratio (LVR) residential mortgage lending were in place from October 2013 to April 2020. The restrictions have been revised over time and were removed in response to the economic impact of the COVID-19 pandemic. These restrictions were later re-instated in March 2021 (refer to Loan-to-valuation ratio restrictions page).
From today, we will publish new breakdowns for residential mortgage lending by loan-to-valuation (LVR) ratios in the C30 web table.
The main change is to provide the value of new commitments before exemptions – and the corresponding exemption amounts – for more LVR thresholds:
These breakdowns are now available for both the new commitments with investment property collateral; and without investment property collateral. Previously, we only published data above and below the relevant compliance thresholds.
The historical data file has been amended into a single excel file for simplicity, with longer time series where applicable, and also includes series for the lending amounts below the LVR thresholds.
The greater range of data for LVR thresholds enables more series on the percentage shares of total lending. These series will all be available in the C30 excel data file, rather than the summary web table.
|0||Zero or value rounded to zero|
|light red background||Historical|