Banking Association: Value of new home loans down by 19%

Banking Association: Value of new home loans down by 19%
(Image: BusinessDesk)
Staff reporters
The value of new home loans decreased by nearly 19% in the second half of last year, figures released by the New Zealand Banking Association show.The average value of new home loans was $338,598, down 18.9% on the previous six months.Over the same period, the Official Cash Rate went from 2.5% to 4.25%, with inflation peaking at 7.2%.The association’s chief executive, Roger Beaumont, said many households were doing it tough given the rising cost of living and rising interest rates.“So, while the Reserve Bank is raising the cost of bo...

More Finance

PEP seeking payday from UP Education
Finance

PEP seeking payday from UP Education

UP Education is a NZ success story in Australia.

Pattrick Smellie 23 Apr 2025
FNZ extends controversial catch-up offer
Finance

FNZ extends controversial catch-up offer

Fintech FNZ has extended its deadline for “catch-up” equity offers, as employee shareholders say discontent grows.In March, the global fintech offered its class B shareholders a “catch-up” offer after it revealed their holdings could be massively diluted following its August capi...

Victoria Young 16 Apr 2025
The cost of over-regulated banking: $10b to $14.4b a year
Finance

The cost of over-regulated banking: $10b to $14.4b a year

Critics claim a huge annual cost from 30 years of regulatory creep.

Pattrick Smellie 16 Apr 2025
Blackbull backs Eden Bradfield into Elevation funds
Finance

Blackbull backs Eden Bradfield into Elevation funds

The Christopher Swasbrook-established fund gets new investors and portfolio manager.