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New lending fully secured by residential mortgage (C71)

The data collection covers new lending or facilities loaded in the reporting month.

Previous years: Monthly:
Dec 2021 Dec 2022 Aug 2023 Sep 2023 Oct 2023 Nov 2023 Dec 2023
New lending fully secured by residential mortgage ($m)
Total 8,756 6,275 5,699 5,810 5,863 6,202 6,445
Floating 2,037 1,230 1,032 1,000 1,019 1,088 1,133
Fixed 6,720 5,045 4,667 4,810 4,844 5,114 5,312
Owner occupier property use ($m)
Total 6,711 4,795 4,347 4,440 4,405 4,653 4,948
Floating 1,535 907 760 710 736 787 834
Fixed 5,176 3,888 3,587 3,730 3,669 3,866 4,114
6 month fixed 180 119 208 236 221 255 324
1 year fixed 1,627 984 1,209 1,203 1,111 1,230 1,371
18 month fixed 299 396 662 729 726 824 923
2 year fixed 1,384 1,587 946 1,044 1,068 991 1,021
3 year fixed 1,211 655 418 398 432 455 389
4 year fixed 204 57 36 34 38 43 31
5 year fixed 272 89 108 86 73 68 56
Residential investor property use ($m)
Total 1,858 1,360 1,266 1,260 1,353 1,431 1,407
Floating 408 259 225 236 236 252 257
Fixed 1,450 1,101 1,041 1,024 1,118 1,180 1,150
6 month fixed 32 43 75 81 81 91 120
1 year fixed 576 306 399 398 443 471 470
18 month fixed 75 115 187 175 217 237 225
2 year fixed 354 452 260 255 256 262 247
3 year fixed 295 144 84 91 88 93 65
4 year fixed 45 16 9 9 12 9 9
5 year fixed 72 24 28 15 20 16 13
Business loans secured by residential property ($m)
Total 187 120 85 110 105 118 89
Floating 94 64 47 54 48 50 42
Fixed 93 56 39 56 57 68 48
Share of new lending fully secured by residential mortgage on floating/fixed terms (%)
Floating share 23.3 19.6 18.1 17.2 17.4 17.5 17.6
Fixed share 76.7 80.4 81.9 82.8 82.6 82.5 82.4

The data: coverage, periodicity and timeliness

Coverage characteristics

We source data from our New Credit Flows Survey. The number of respondents for the NCF survey are 20 registered banks, of which 13 are locally incorporated and 7 are the branches of the dual registered banks.

The table shows aggregated new lending data from the monthly New Credit Flows survey which includes housing, business, agriculture and consumer new lending.

The data collection covers new lending drawn down or facilities loaded in the reporting month. The New Credit Flows survey only reports the flows during the month instead of the ‘as at’ stock data at the end of the month such as that is reported in our Bank Balance Sheet Survey.  

Data starts from April 2021 and is denominated in NZ dollars.

Periodicity and timeliness

We publish data 25 working days after the end of the reference period.

Access by the public

Statistics release calendar

The statistics release calendar provides a long-term plan of scheduled releases. We update and release it 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

We currently collect data under Section 93 of the Reserve Bank of New Zealand Act 1989 (the Act).

Read the Reserve Bank of New Zealand Act 1989

We only publish 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. We generally publish revisions when we update and release the next table. Should we need to make revisions more promptly, we will post a special note on the website. We also post any major changes in methodology as a special note.

Quality

Dissemination of documentation on methodology and sources used in preparing statistics

View our list of registered banks

This data collection shows the value of new lending in the reporting month. The values reported are flows of new lending that has occurred during the reporting month.
We publish stock position data in the Banks: Assets – Loans by purpose (S31) table. Please refer to the attached technical note for more information about how these two data sources compare.

Value of new lending

Lending values are reported once new lending has been drawn down. In the case of a revolving facility only the new or additional limit value is reported and not the general churn/use within the facility that means the use of existing facilities is not included. New lending values do not include any changes in the product or structure of existing loans.

Residential new lending comprises:

  • Owner occupier property use
  • Residential investor property use
  • Business loans fully secured by residential mortgage 

Owner occupier property use

Owner occupiers are borrowers who own or are in the process of buying or building the house or flat they will live in as their principal place of residence. 

Residential investor property use

Investors are entities or persons borrowing for the purpose of building or purchasing residential property to rent. This includes ‘mum and dad’ investor loans and any person(s) that have a separate residential investor property use loan that is not for their normal business purpose.

Business loans secured by residential property

Business loans where the only security type is a residential mortgage loan. The borrower declares that the loan is for business purposes as part of the loan application. Excludes loans cross collateralised between residential property and other assets.

Lending terms 

Floating

Floating rate loans where the interest rate can or does change the following business day and offset loans.

Fixed

All other loans that are not floating or non-interest bearing, which are reported in the bucket under the appropriate fixed interest rate period.

Memo Item

Share of new lending fully secured by residential mortgage on floating/fixed terms

Floating share includes the share of new residential lending on floating terms as a percentage of total new residential lending.
Fixed share includes the share of new residential lending on fixed terms as a percentage of total new residential lending.

 

Symbols and conventions for summary table

Symbol or convention Definition
0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
Light grey 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.