The Reserve Bank of New Zealand (RBNZ) released data yesterday showing that new mortgage commitments hit their highest level on record in January driven by strong growth in both owner-occupiers and investors.
In the year to January 2021, $77.9 billion worth of mortgages were issued, 6% higher than the previous peak of $73.6 billion in the year to August 2016:
New Zealand mortgage demand is booming, which is propelling property prices higher.
