New Zealand: residential property financing by loan purpose 2024

In January 2024, the value of residential mortgage loans taken out to purchase or build a property in New Zealand amounted to around 2.2 billion New Zealand dollars. That year, the majority of residential mortgage lending went to owner-occupiers where the property was not their first home.

Monthly residential mortgage lending value in New Zealand in January 2024, by loan purpose (in million New Zealand dollars)

Characteristic	Value in million New Zealand dollars
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Release date

February 2024

More information

Region

New Zealand

Survey time period

January 2024

Supplementary notes

One New Zealand dollar is equal to approximately 0.62 U.S. dollars and 0.57 euros (as of March 2024).

Top ups refers to increases in lending to an existing residential mortgage loan where the underlying security has not changed but may be revalued and/or additional security may be provided.

Property purchases refers to residential mortgage loans taken out to purchase or build a property. This includes for example, first home buyers, other owner occupiers who purchase a second property and investors.

Changes in loan provider refers to residential mortgage loans taken out to refinance an existing residential mortgage from another bank or non-bank lender, regardless of whether the value of the loan has changed during the transfer.

Other refers to residential mortgage commitments that do not meet the definitions for top-ups, property purchases, or changes in loan provider. For example, the use of an unencumbered property as security for a new loan, regardless of the loan purpose.

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