Mortgage lending to investors plummets

The Reserve Bank’s latest mortgage lending data is out and it reveals a dramatic decline in the share of new lending going to investors.

There was a total of $6.224 billion in new mortgage lending in November, which is up on last month’s $5.527 billion and on last November’s $5.294 billion.

Of November’s new lending, investors accounted for $1.091 billion. This was an increase on the $1.031 they borrowed in October, but down on the $1.132 billion borrowed in November 2017.

However, this equates to a share of just over 17.5% of the total lending in November – and it is a big drop in the share of lending investors are responsible for.