Household indebtedness rises $240 million
New Zealanders borrowed an additional $240 million in mortgages in September, bringing the total owed on housing to $66.58 billion
Sunday, October 28th 2001, 7:58PM
by Jenny Ruth
New Zealanders borrowed an additional $240 million in mortgages in September, bringing the total owed on housing to $66.58 billion, according to the latest Reserve Bank figures.
Between September last year and this September, mortgage borrowing rose by $3.911 billion, or 6.24%. That’s slightly slower that the previous year’s 6.79% growth in mortgage borrowing.
Mortgage borrowing in September was 90.7%
of total household indebtedness, down marginally from a year earlier
and 91% in September 1999. Total household indebtedness in September
was $73.385 billion.
| « New housing consents fell in September | Home affordability falls in September quarter » |
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