New Zealanders borrowed more in October
New Zealanders borrowed an additional $374 million in mortgages in October, bringing the total owed on housing to $66.954 billion, according to the latest Reserve Bank figures.
Thursday, November 29th 2001, 6:22PM
by Jenny Ruth
New Zealanders borrowed an additional $374 million in mortgages in October, bringing the total owed on housing to $66.954 billion, according to the latest Reserve Bank figures.
Between October last year and this October, mortgage borrowing rose by $4.053 billion, or 6.44%. That’s slightly faster than the previous year’s 6.43% growth in mortgage borrowing.
Mortgage borrowing in October was 90.7%
of total household indebtedness, down marginally from 90.8% a
year earlier and 91% in October 1999. Total household indebtedness
in October was $73.826 billion.
| « Housing consents bounced back in October | Unbankable people wanted » |
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