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NZ Mortgage Lending Slows in June Amid Cooling Market

Guavy AI Editorial Team
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NZD
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New Zealand mortgage lending eased slightly in June, with total new commitments reaching $8.5 billion, down 2.2% from $8.6 billion in May.

According to Reserve Bank data, the annual value of new commitments was up 2.2% compared with June last year, indicating a cooling market that's losing momentum month-over-month but holding ground year-on-year.

The Real Estate Institute of New Zealand (REINZ) describes the trend as consistent with what its members are seeing on the ground: active buyers who take time to compare properties and weigh up affordability before making considered decisions.

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