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Residential mortgage borrower gross income (BGI) (C41)

This data shows the average income, and debt-to-income ratios, of recipients for new mortgage loans.

Previous years: Monthly:
May 2023 May 2024 Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025
Average gross income for first home buyer ($k)
TDTI <= 3 174 175 187 171 181 181 199
3 < TDTI <= 4 155 154 159 151 159 155 161
4 < TDTI <= 5 141 140 143 140 140 138 136
5 < TDTI <= 6 136 133 131 128 128 129 127
TDTI > 6 130 120 110 128 124 125 119
Average gross income for other owner occupier without investment property collateral ($k)
TDTI <= 3 220 215 195 201 198 203 208
3 < TDTI <= 4 191 206 181 182 180 182 183
4 < TDTI <= 5 192 197 178 179 178 173 177
5 < TDTI <= 6 202 221 196 209 194 193 197
TDTI > 6 251 201 209 191 208 227 236
New commitments to first home buyer ($m)
BGI <= $65,000 21 8 6 11 11 12 13
$65,000 < BGI <= $90,000 90 72 71 65 117 101 107
$90,000 < BGI <= $115,000 191 186 129 164 218 232 256
$115,000 < BGI <= $140,000 316 289 199 222 312 312 325
$140,000 < BGI <= $165,000 300 330 214 214 338 325 336
$165,000 < BGI <= $190,000 186 210 153 166 243 220 214
$190,000 < BGI <= $215,000 130 145 105 108 165 137 161
$215,000 < BGI <= $240,000 68 102 59 53 93 73 84
BGI > $240,000 114 135 96 102 168 126 140
New commitments to other owner occupiers without investment property collateral ($m)
BGI <= $65,000 43 27 23 30 44 43 46
$65,000 < BGI <= $90,000 115 93 76 83 114 102 121
$90,000 < BGI <= $115,000 192 182 149 161 235 212 239
$115,000 < BGI <= $140,000 293 276 182 222 327 285 334
$140,000 < BGI <= $165,000 321 338 242 263 386 348 390
$165,000 < BGI <= $190,000 298 341 210 264 394 341 395
$190,000 < BGI <= $215,000 222 291 187 210 370 303 311
$215,000 < BGI <= $240,000 154 240 169 178 253 221 295
BGI > $240,000 863 1,118 794 923 1,300 1,198 1,330

Updates to Debt-to-Income publication frequency

13 November 2024

Today we have released the latest Debt-to-Income (DTI) new commitments data covering the period starting August-24 to September-24 in the C40 and C41 tables as scheduled. Moving forward, we will align the publication dates of the DTI tables with the Loan-to-Valuation Ratio (LVR) new commitments tables (C30, C31, C32, and C33). As a result of this alignment, the DTI new commitments data will now be released monthly, starting with the first monthly release of October-24 data on the 27th of November 2024.


Residential mortgage borrower gross income (BGI) special notes

The data: coverage, periodicity and timeliness

Coverage characteristics

The table shows data from the monthly debt-to-income (DTI) survey that registered banks in New Zealand complete.

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.

Timeliness

We publish data 18 working days after the end of the reference period.

Access by the public

Statistics release calendar

The statistics release calendar provides a 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 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

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 will also post any major changes in methodology as a special note.

Total Debt to Income ratio (TDTI)

Total Debt to Income ratio (that is, 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 disclose 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 DTIs 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 (that is, that qualifies (after any applicable haircuts) based on internal policy). It includes wages and salaries, self-employment income, boarder income, rental income, superannuation and 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 party 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; for example, 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 had 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

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.