Residential mortgage borrower gross income (BGI) – C41

Released
18 February 2020 03:00 p.m.
Next release
18 May 2020 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Dec 2017 Dec 2018 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019
Average gross income for first home buyer ($k)
TDTI <= 3 151 134 137 142 143 142 146
3 < TDTI <= 4 119 117 121 120 120 126 126
4 < TDTI <= 5 103 108 110 112 111 111 111
5 < TDTI <= 6 96 103 103 103 104 105 106
TDTI > 6 114 103 102 105 107 105 106
Average gross income for other owner occupier without investment property collateral ($k)
TDTI <= 3 133 134 133 136 130 136 139
3 < TDTI <= 4 116 123 126 126 124 125 129
4 < TDTI <= 5 114 124 120 121 119 122 128
5 < TDTI <= 6 122 130 129 134 125 130 131
TDTI > 6 134 141 158 141 147 140 142
New commitments to first home buyer ($m)
BGI <= $65,000 73 69 66 62 72 73 71
$65,000 < BGI <= $90,000 152 174 143 175 203 214 215
$90,000 < BGI <= $115,000 200 227 242 234 281 319 291
$115,000 < BGI <= $140,000 113 198 212 203 221 273 258
$140,000 < BGI <= $165,000 84 105 102 111 134 144 149
$165,000 < BGI <= $190,000 44 64 59 64 81 74 90
$190,000 < BGI <= $215,000 29 30 33 48 43 59 55
$215,000 < BGI <= $240,000 21 19 22 20 23 30 25
BGI > $240,000 65 41 48 56 57 65 61
New commitments to other owner occupiers without investment property collateral ($m)
BGI <= $65,000 201 132 135 134 132 156 129
$65,000 < BGI <= $90,000 314 282 269 291 303 327 311
$90,000 < BGI <= $115,000 432 397 391 391 422 452 427
$115,000 < BGI <= $140,000 384 394 362 381 431 466 428
$140,000 < BGI <= $165,000 268 298 303 316 316 369 359
$165,000 < BGI <= $190,000 199 240 216 224 218 269 241
$190,000 < BGI <= $215,000 136 157 150 164 179 177 190
$215,000 < BGI <= $240,000 122 107 114 103 114 120 137
BGI > $240,000 428 436 437 444 479 558 550

The data: coverage, periodicity, and timeliness

Coverage characteristics

The table shows data from the monthly debt-to-income (DTI) 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 DTI. Committed lending in the monthly DTI 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.

Periodicity

Monthly data published quarterly

Timeliness

Data is published 31 working days after the end of the reference quarter.

Access by the public

Statistics release calendar

The Statistics Release Calendar provides a 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 93 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

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.

Debt to Income Series description

Total Debt to Income ratio (TDTI)

Total Debt to Income ratio (i.e. Total Balance of Borrowers’ Debts (to all lenders) / Total Gross Income).

Total balance of loan values is the sum of all loan values (typically the limit of each loan) that the borrower or borrowing parties discloses they are responsible for servicing out of their income. This includes the loan value of the new commitment, and any pre-existing mortgages, although there are some debts that are typically excluded, such as business and student loans.

Unknown DTI

Borrowers and loans classified as “unknown DTI” are extraordinary cases where the information on borrower debts or borrower gross incomes are incomplete, unverified or not recoverable, and no reasonable proxy exists to estimate the DTI. Proxies must reflect information specific to the individual customer.

Unknown DTI's are included where DTI 'bucket' is not specified.

Borrower Gross Income (BGI)

Borrower gross income is the amount a bank is prepared to count in its servicing analysis (i.e. that qualifies (after any applicable haircuts) based on internal policy). It includes wages and salaries, self-employment income, boarder income, rental income, superannuation & other government benefits and investment income.

Loan to valuation ratio (LVR)

Loan-to-valuation ratio = [loan value / property value] x 100.

New commitments ($ millions)

Value of committed residential mortgage loans during a month, 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. Any offer to purchase a home by the customer, that is to be financed by the loan, is typically unconditional at this stage.

First home buyers

A first home buyer is a borrower intending to purchase or build a property for owner occupation 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 without investment property collateral

Other owner occupiers are borrowers who own or are in the process of buying or building a house or flat they (or a related party) will live in, are borrowing against properties that meet that definition, are not first home buyers, and are not borrowing against any investment properties. An owner can occupy more than one property, e.g. a family home and a holiday home.

Auckland commitments

This includes any loan that has any Auckland investment property as collateral. It also includes any loan that has an Auckland owner occupied property as collateral, unless that loan has also has investment property as collateral and those investment properties are all outside Auckland.

Borrowers (number)

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. Any offer to purchase a home by the customer, that is to be financed by the loan, is typically unconditional at this stage.

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.