New residential mortgage lending by borrower type - C31

Released
25 October 2018 03:00 p.m.
Next release
27 November 2018 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Sep 2016 Sep 2017 May 2018 Jun 2018 Jul 2018 Aug 2018 Sep 2018
Total lending ($million)
All borrower types 5,831 4,567 6,592 5,305 5,523 5,402 4,777
First home buyer 718 658 1,116 803 910 833 821
Other owner occupier 3,511 2,809 3,844 3,191 3,235 3,251 2,880
Investor 1,530 1,048 1,561 1,253 1,320 1,246 1,014
Business purposes 72 51 71 58 58 72 61
Higher than 80% LVR lending ($million)
All borrower types 378 286 556 406 483 452 420
First home buyer 208 161 376 252 320 292 281
Other owner occupier 155 122 171 146 158 148 135
Investor 14 3 9 6 5 12 3
Business purposes 1 0 0 2 0 0 2
Less than or equal to 80% LVR lending ($million)
All borrower types 5,453 4,281 6,036 4,898 5,039 4,950 4,357
First home buyer 510 497 740 551 590 540 540
Other owner occupier 3,355 2,687 3,673 3,045 3,077 3,102 2,746
Investor 1,516 1,045 1,552 1,247 1,315 1,235 1,012
Business purposes 71 51 71 56 58 72 60
MEMO ITEM: Lending to investors ($million)
Total lending 1,530 1,048 1,561 1,253 1,320 1,246 1,014
Higher than 70% LVR lending 272 127 217 151 191 177 153
Less than or equal to 70% LVR lending 1,257 922 1,343 1,101 1,129 1,070 862

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.

View the Statistics Release Calendar

Integrity

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

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.

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.

25 October 2018

Today the Reserve Bank published residential mortgage lending statistics with minor revisions to some series.

The main changes are to the following commitment use series:

  • Total lending - Other owner occupier
  • Less than or equal to 80% LVR lending – Other owner occupier
  • Total lending – Investor
  • Less than or equal to 80% LVR lending – Investor

These data quality improvements are minor resulting in a movement of $2m - $8m from “other owner occupier” lending to “investor” lending from October 2017 to August 2018.

Please note there is no impact to compliance data.

If you have any questions please contacts stats-info@rbnz.govt.nz.

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.