New residential mortgage lending by borrower type - C31

Released
26 March 2018 03:00 p.m.
Next release
27 April 2018 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Feb 2016 Feb 2017 Oct 2017 Nov 2017 Dec 2017 Jan 2018 Feb 2018
Total lending ($million)
All borrower types 5,166 4,379 4,605 5,293 5,092 3,696 4,667
First home buyer 591 591 722 778 767 564 727
Other owner occupier 2,855 2,720 2,789 3,330 3,199 2,317 2,854
Investor 1,640 1,024 1,050 1,136 1,066 783 1,038
Business purposes 80 43 45 49 60 32 48
Higher than 80% LVR lending ($million)
All borrower types 441 280 306 315 337 248 362
First home buyer 195 140 186 173 197 146 222
Other owner occupier 214 131 115 136 133 100 135
Investor 31 9 5 6 7 3 4
Business purposes 2 0 0 1 0 0 0
Less than or equal to 80% LVR lending ($million)
All borrower types 4,725 4,098 4,299 4,978 4,755 3,448 4,305
First home buyer 396 451 535 604 570 418 505
Other owner occupier 2,641 2,589 2,674 3,194 3,066 2,218 2,719
Investor 1,609 1,015 1,045 1,131 1,059 780 1,034
Business purposes 79 43 45 49 60 31 48
MEMO ITEM: Lending to investors ($million)
Total lending 1,640 1,024 1,050 1,136 1,066 783 1,038
Higher than 70% LVR lending 560 120 114 123 133 85 138
Less than or equal to 70% LVR lending 1,080 905 935 1,013 933 698 900

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.

Symbols and conventions for summary table

0 Zero or value rounded to zero
- 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.