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

Easy to spend, not so easy to pay it back. (Image: Getty)

Wed, 03 Apr 2024

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...

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Markets

Another solar farm gets the nod from Genesis

Genesis Energy has approved the construction of the Edgecumbe Solar Farm in the Bay of Plenty, marking its second major solar commitment in as many months.The company made a final investment decision (FID) on the 136 megawatt peak (MWp) farm, clearing the way for work to begin sh...

Ian Llewellyn 9:40am

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