Residential mortgage borrower gross income (BGI) – C41

Released
12 August 2019 03:00 p.m.
Next release
13 November 2019 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Jun 2017 Jun 2018 Feb 2019 Mar 2019 Apr 2019 May 2019 Jun 2019
Average gross income for first home buyer ($k)
TDTI <= 3 133 135 123 132 137 131 133
3 < TDTI <= 4 108 112 113 119 122 115 123
4 < TDTI <= 5 104 105 105 108 110 111 109
5 < TDTI <= 6 96 101 104 101 102 107 105
TDTI > 6 105 101 103 110 106 102 110
Average gross income for other owner occupier without investment property collateral ($k)
TDTI <= 3 135 129 135 134 132 132 141
3 < TDTI <= 4 120 120 123 120 124 127 127
4 < TDTI <= 5 114 121 117 123 120 124 121
5 < TDTI <= 6 122 130 127 134 132 127 135
TDTI > 6 132 128 122 139 126 146 151
New commitments to first home buyer ($m)
BGI <= $65,000 71 72 63 68 68 74 64
$65,000 < BGI <= $90,000 156 163 160 176 177 210 164
$90,000 < BGI <= $115,000 167 205 197 269 243 297 231
$115,000 < BGI <= $140,000 118 139 159 209 193 221 194
$140,000 < BGI <= $165,000 62 91 106 107 102 144 129
$165,000 < BGI <= $190,000 37 53 53 74 68 77 51
$190,000 < BGI <= $215,000 22 23 29 28 40 45 34
$215,000 < BGI <= $240,000 14 18 19 28 22 27 20
BGI > $240,000 61 49 28 46 56 57 42
New commitments to other owner occupiers without investment property collateral ($m)
BGI <= $65,000 204 155 136 142 137 148 128
$65,000 < BGI <= $90,000 327 307 263 314 293 333 266
$90,000 < BGI <= $115,000 411 410 381 414 383 474 375
$115,000 < BGI <= $140,000 351 379 345 386 377 454 360
$140,000 < BGI <= $165,000 282 280 260 334 278 342 317
$165,000 < BGI <= $190,000 194 217 187 204 208 252 218
$190,000 < BGI <= $215,000 129 138 138 156 153 200 153
$215,000 < BGI <= $240,000 89 95 100 121 120 117 108
BGI > $240,000 398 470 424 453 417 528 456

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.