As of December 2023, the average interest rate for a new standard 1-year residential mortgage in New Zealand was 7.76 percent. In comparison, the average 5-year interest rate for a residential mortgage was at 7.2 percent. Average interest rates for new standard residential mortgages have been on the rise in the country over the past few years.
Average interest rate for new standard residential mortgages in New Zealand from January 2016 to December 2023, by mortgage term
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Other statistics that may interest you Real estate in New Zealand
Market overview
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Residential property
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- Premium Statistic Residential property price New Zealand 2024, by region
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Residential rental market
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- Premium Statistic Mean weekly rent in housing market New Zealand 2010-2023
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Home financing
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- Premium Statistic Residential mortgage lending New Zealand 2018-2024
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Commercial property
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- Premium Statistic Share of commercial property sales New Zealand H1 2023, by sector
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Further Content: You might find this interesting as well
Reserve Bank of New Zealand. (January 12, 2024). Average interest rate for new standard residential mortgages in New Zealand from January 2016 to December 2023, by mortgage term [Graph]. In Statista. Retrieved May 03, 2024, from https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/
Reserve Bank of New Zealand. "Average interest rate for new standard residential mortgages in New Zealand from January 2016 to December 2023, by mortgage term." Chart. January 12, 2024. Statista. Accessed May 03, 2024. https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/
Reserve Bank of New Zealand. (2024). Average interest rate for new standard residential mortgages in New Zealand from January 2016 to December 2023, by mortgage term. Statista. Statista Inc.. Accessed: May 03, 2024. https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/
Reserve Bank of New Zealand. "Average Interest Rate for New Standard Residential Mortgages in New Zealand from January 2016 to December 2023, by Mortgage Term." Statista, Statista Inc., 12 Jan 2024, https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/
Reserve Bank of New Zealand, Average interest rate for new standard residential mortgages in New Zealand from January 2016 to December 2023, by mortgage term Statista, https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/ (last visited May 03, 2024)
Average interest rate for new standard residential mortgages in New Zealand from January 2016 to December 2023, by mortgage term [Graph], Reserve Bank of New Zealand, January 12, 2024. [Online]. Available: https://www.statista.com/statistics/1445577/new-zealand-average-new-standard-mortgage-interest-rate-by-mortgage-term/