NZ mortgage growth falling as macro-prudential bites

Tuesday, 1 August 2017

The RBNZ has released its monthly credit aggregates data, which showed New Zealand household borrowing continuing to retrace sharply from September’s cyclical high, recording annual growth of 7.6% in June:

Most of New Zealand’s household debt is driven by mortgages, which has also retraced sharply to to 7.7% in the year to June 2017:

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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.