New residential mortgage lending by borrower type - C31

Released
25 November 2020 03:00 p.m.
Next release
23 December 2020 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Oct 2018 Oct 2019 Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020
Total lending ($million)
All borrower types 5,527 6,077 5,364 6,586 6,785 7,323 7,782
First home buyer 920 1,102 1,090 1,344 1,344 1,396 1,396
Other owner occupier 3,515 3,709 3,187 3,733 3,931 4,205 4,406
Investor 1,031 1,196 1,040 1,451 1,452 1,661 1,899
Business purposes 61 70 47 58 59 61 81
Higher than 80% LVR lending ($million)
All borrower types 494 615 651 796 757 789 749
First home buyer 316 429 466 577 554 582 528
Other owner occupier 177 181 176 211 197 197 211
Investor 2 5 6 8 5 9 7
Business purposes 0 0 2 0 1 1 3
Less than or equal to 80% LVR lending ($million)
All borrower types 5,033 5,462 4,714 5,790 6,028 6,534 7,032
First home buyer 604 673 624 768 790 813 867
Other owner occupier 3,338 3,528 3,010 3,522 3,734 4,008 4,195
Investor 1,030 1,191 1,034 1,443 1,447 1,652 1,891
Business purposes 60 70 45 58 58 61 78
MEMO ITEM: Lending to investors ($million)
Total lending 1,031 1,196 1,040 1,451 1,452 1,661 1,899
Higher than 70% LVR lending 117 186 204 446 491 611 745
Less than or equal to 70% LVR lending 914 1,010 836 1,006 960 1,050 1,154

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.

Key points – October 2020

Today’s Loan to Value Ratio release includes an attached PDF file “LVR key points – October 2020”. The file highlights some of the data impacted by COVID-19 and policy responses.

Updated C30 data table

26 August 2020

Today the Reserve Bank introduces an updated data table (C30) to reflect the LVR changes that came into effect on 1 May 2020. A historical file containing data relating to the previous policy will still be available but will no longer be updated.

If you have any questions please contact us at 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.