Residential mortgage borrower gross income (BGI) – C41

Released
12 August 2020 03:00 p.m.
Next release
13 November 2020 03:00 p.m.
Source
Reserve Bank of New Zealand
Periodicity
Monthly
Previous years: Monthly:
Jun 2018 Jun 2019 Feb 2020 Mar 2020 Apr 2020 May 2020 Jun 2020
Average gross income for first home buyer ($k)
TDTI <= 3 135 133 141 143 149 151 148
3 < TDTI <= 4 112 123 125 130 129 128 125
4 < TDTI <= 5 105 109 113 115 121 117 116
5 < TDTI <= 6 101 105 105 109 110 105 108
TDTI > 6 101 110 105 103 111 108 105
Average gross income for other owner occupier without investment property collateral ($k)
TDTI <= 3 129 141 140 146 189 151 137
3 < TDTI <= 4 120 127 132 135 153 132 128
4 < TDTI <= 5 121 121 127 131 136 129 128
5 < TDTI <= 6 130 135 130 131 138 130 126
TDTI > 6 128 151 144 137 158 155 137
New commitments to first home buyer ($m)
BGI <= $65,000 72 64 56 61 21 45 61
$65,000 < BGI <= $90,000 163 164 178 184 74 136 197
$90,000 < BGI <= $115,000 205 231 223 270 123 199 271
$115,000 < BGI <= $140,000 139 194 194 242 97 180 222
$140,000 < BGI <= $165,000 91 129 125 160 74 95 129
$165,000 < BGI <= $190,000 53 51 65 79 35 60 75
$190,000 < BGI <= $215,000 23 34 38 49 21 38 48
$215,000 < BGI <= $240,000 18 20 27 25 13 19 30
BGI > $240,000 49 42 39 68 26 36 60
New commitments to other owner occupiers without investment property collateral ($m)
BGI <= $65,000 155 128 133 129 41 84 104
$65,000 < BGI <= $90,000 307 266 267 272 106 182 238
$90,000 < BGI <= $115,000 410 375 356 373 159 265 346
$115,000 < BGI <= $140,000 379 360 351 380 192 299 372
$140,000 < BGI <= $165,000 280 317 289 310 136 212 261
$165,000 < BGI <= $190,000 217 218 222 233 102 154 206
$190,000 < BGI <= $215,000 138 153 161 163 90 117 139
$215,000 < BGI <= $240,000 95 108 119 123 65 78 98
BGI > $240,000 470 456 513 553 285 381 401

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.