New residential mortgage lending by borrower type - C31

Released
26 July 2017 03:00 p.m.
Next release
24 August 2017 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Jun 2015 Jun 2016 Feb 2017 Mar 2017 Apr 2017 May 2017 Jun 2017
Total lending ($million)
All borrower types 5,745 6,803 4,379 5,985 4,558 6,036 5,097
First home buyer 577 738 591 818 630 849 713
Other owner occupier 3,229 3,623 2,720 3,655 2,738 3,630 3,099
Investor 1,856 2,368 1,024 1,426 1,143 1,490 1,219
Business purposes 83 74 43 87 47 66 66
Higher than 80% LVR lending ($million)
All borrower types 462 455 280 359 263 379 319
First home buyer 176 218 140 214 149 221 194
Other owner occupier 239 191 131 137 109 147 116
Investor 45 45 9 8 5 11 9
Business purposes 2 2 0 0 - 1 1
Less than or equal to 80% LVR lending ($million)
All borrower types 5,283 6,348 4,098 5,626 4,295 5,656 4,778
First home buyer 401 520 451 604 481 628 519
Other owner occupier 2,991 3,432 2,589 3,518 2,629 3,483 2,983
Investor 1,811 2,323 1,015 1,418 1,138 1,480 1,210
Business purposes 81 72 43 86 47 66 66
MEMO ITEM: Lending to investors ($million)
Total lending 1,856 2,368 1,024 1,426 1,143 1,490 1,219
Higher than 70% LVR lending 943 715 120 155 116 149 124
Less than or equal to 70% LVR lending 913 1,653 905 1,272 1,027 1,342 1,095

The Data: Coverage, Periodicity, and Timeliness

Coverage characteristics

Registered banks provide data on new residential mortgage lending commitments during a reference month with a breakdown by loan-to-valuation ratio (LVR) and borrower type. Borrowers are classified as first home buyers, other owner-occupiers, investor or those borrowing for business purposes.

Periodicity

Monthly

Timeliness

Data is published 18 working days after the end of the reference month.

Access by the public

Statistics release calendar

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.

Integrity

Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses

Data are collected under Section 93 of The Reserve Bank of New Zealand Act 1989. The Reserve Bank of New Zealand publishes only aggregated data. Individual institutional data remains confidential.

Provision of information about revisions and advance notice of major changes in methodology

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.

Quality

Dissemination of statistics that support statistical cross-check and provide assurance of reasonableness

Data on new residential mortgage lending commitments by loan-to-valuation ratio (LVR) is published in C30.

Lending ($ millions)

Total lending

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.

Higher than 80% LVR lending

Monthly value of committed residential mortgage lending, where the loan-to-valuation ratio (LVR) is above 80%.

Less than or equal to 80% LVR lending

Monthly value of committed residential mortgage lending, where the loan-to-valuation ratio (LVR) is 80% or below.

Higher than 70% LVR lending

Monthly value of committed residential mortgage lending, where the loan-to-valuation ratio (LVR) is above 70%. This data is published for investors only.

Less than or equal to 70% LVR lending

Monthly value of committed residential mortgage lending, where the loan-to-valuation ratio (LVR) is 70% or below. This data is published for investors only.

Borrowers (number)

Total borrowers

Total number 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.

Higher than 80% LVR borrowers

Monthly number of committed residential mortgage loans, where the loan-to-valuation ratio (LVR) is above 80%.

Less than or equal to 80% LVR borrowers

Monthly number of committed residential mortgage loans, where the loan-to-valuation ratio (LVR) is 80% or below.

Higher than 70% LVR borrowers

Monthly number of committed residential mortgage loans, where the loan-to-valuation ratio (LVR) is above 70%. This data is published for investors only.

Less than or equal to 70% LVR borrowers

Monthly number of committed residential mortgage loans, where the loan-to-valuation ratio (LVR) is 70% or below. This data is published for investors only.

Borrower type

First home buyer

A first home buyer is a borrower entering the home ownership market in New Zealand for the first time. In the case of more than one borrowing parties to a loan, borrowers are classified as first home buyers only if none of the borrowing parties have previously drawn down on housing finance for owner occupation. If the borrower, or at least one borrowing party, has previously drawn down on housing finance for owner occupation they are classified as "other Owner Occupier".

Other owner occupier

Other owner occupiers are borrowers (other than first home buyers) who own or are in the process of buying or building the house or flat they will live in. An owner can occupy more than one property e.g. a family home and a holiday home.

Investor

Investors are entities or persons borrowing for the purpose of building or purchasing residential property to rent. The borrower is securing the loan on a non owner occupied property i.e. the borrower does not intend to live in the property for which they are seeking finance.

Business purposes

These commitments are made to borrowers in the form of a residential mortgage loan but are intended for business purposes.

The new format for our Excel data files will be rolled out to the LVR  (Tables C30, C31, C32 and C35) on 10 July 2017.

The most notable changes in the Excel data files will be:

  • No extra columns, bold numbers, merged cells or any other formatting. This will make it easier for data users to transform the file into other ‘machine friendly’ formats such as .csv.
  • Two extra tabs – ‘Table Description’ and ‘Series Definitions’ that will contain supplementary information about the table and the data.
  • The data tab will have two extra rows: unit and series ID linked to the Series Definitions.

There will be no change to the presentation of summary data in the summary tab.

 

7 July 2017

Symbols and conventions for summary table

0 Value rounded to zero
- Zero or not applicable
.. Not available
bold Revised/new
italics Provisional
light red background Historical

General notes

  • Individual figures may not sum to the totals due to rounding
  • Percentage changes are calculated on unrounded numbers
  • You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.