Payback time: consumers at 30-days past due hit six-year high

Payback time: consumers at 30-days past due hit six-year high
Easy to spend, not so easy to pay it back. (Image: Getty)
Brent Melville
About 22,600 mortgage holders were in the past due column in February, the highest level since just prior to the pandemic, according to data from credit bureau Centrix.The number of borrowers in arrears was at 2.29% for the month, up on the 2.04% last February, while the average outstanding mortgage had also tracked up by almost $14,000 to $495,465. Aucklanders continue to carry the highest average mortgage, at $684,417, with Queenstown-Lakes at $568,823 and Wellington City at $556,901. All three have seen higher n...

More Economy

Jobs growth still strong for small NZ businesses
Economy

Jobs growth still strong for small NZ businesses

Xero says jobs rose 7% year-on-year in the March quarter.

The labour market is doing what the RBNZ wants
Economy

The labour market is doing what the RBNZ wants

BNZ expects unemployment to tick up to 4.3%. 

Rebecca Howard 23 Apr 2024
The industrial policy debate never seems to go away
Economy

Dileepa Fonseka: The industrial policy debate never seems to go away

Industrial policy is getting a second hearing around the world, including in NZ.

Dileepa Fonseka 22 Apr 2024
How to discourage wealth
Economy

Simon Robertson: How to discourage wealth

Let NZers invest $1 offshore without making the starting point 95c every year.

Simon Robertson 20 Apr 2024