Following my earlier article on how Australia’s household debt ratios hit an all-time high in the March quarter, pushing risk back to pre-GFC levels, Interest.co.nz has published an article claiming that New Zealanders are borrowed at their fastest rate since the GFC in the month of May, with loan growth up by $1.5 billion over the month:
Housing debt grew at its fastest annual pace in 13 months during May and surged a net $1.5 billion month-on-month, the latest Reserve Bank sector credit data shows.
