PHOTO: The Reserve Bank of New Zealand
Key points for June 2020
Total monthly new mortgage commitments were $5.3b in June. This is an increase of $1.1b
(24.2%), compared with May 2020, but still down 1.4% from June 2019.
New mortgage commitments to first home buyers increased from $0.8b in May to $1.1b in
June and other occupiers increased from $2.6b in May to $3.2b in June.
First home buyers accounted for 20.3% of new mortgage commitments, up from 18.5% in
May, recording the highest share of new mortgage commitments since the collection of the
survey (2013). Investors accounted for 19.4% of new mortgage commitments, down from
20.7% in May.
The year-on-year fall of 1.4% in new mortgage commitments was driven by the decline in
annual growth in Auckland. In Auckland, new mortgage commitments fell 7.8%, while new
commitments outside of Auckland rose 3.9%.
In June, 15.1% of new mortgage commitments without investment property collateral had an
LVR share of over 80% after exemptions. For investors, 8.5% of new mortgage commitments
had an LVR of over 70% after exemptions, compared with 1.5% in May 2020.
| Previous years: | Monthly: | ||||||
|---|---|---|---|---|---|---|---|
| Jun 2018 | Jun 2019 | Feb 2020 | Mar 2020 | Apr 2020 | May 2020 | Jun 2020 | |
| Total lending ($million) | |||||||
| All borrower types | 5,305 | 5,441 | 5,579 | 6,181 | 2,749 | 4,318 | 5,364 |
| First home buyer | 803 | 926 | 938 | 1,137 | 484 | 801 | 1,090 |
| Other owner occupier | 3,191 | 3,435 | 3,448 | 3,667 | 1,659 | 2,586 | 3,187 |
| Investor | 1,253 | 1,024 | 1,135 | 1,319 | 561 | 895 | 1,040 |
| Business purposes | 58 | 56 | 58 | 58 | 45 | 36 | 47 |
| Higher than 80% LVR lending ($million) | |||||||
| All borrower types | 406 | 566 | 562 | 624 | 272 | 515 | 651 |
| First home buyer | 252 | 390 | 371 | 433 | 196 | 355 | 466 |
| Other owner occupier | 146 | 170 | 186 | 184 | 74 | 153 | 176 |
| Investor | 6 | 6 | 4 | 6 | 1 | 5 | 6 |
| Business purposes | 2 | 0 | 2 | 1 | 0 | 0 | 2 |
READ MORE VIA RBNZ
