NZ debt, housing values set new record

Sunday 11 September 2016

Earlier this month, the Reserve Bank of New Zealand (RBNZ) released its monthly credit aggregates data, which showed that household borrowing had hit an annual growth rate of 8.6% in July – the highest level since May 2008 just prior to the onset of the Global Financial Crisis (GFC):

Now, the RBNZ has released its quarterly household financial statistics, which reveals that the ratio of household debt-to-disposable income hit a record 165.0% in the June quarter:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.