Mortgage News

Kiwi appetite for housing debt seems to be abating

Monday 9th of July 2001

Growth in household debt slowed to 6% in the year ended May from 8.4% in the previous year. That’s the slowest rate of growth of borrowing experienced for more than 20 years, say Clive Thorp and Bun Ung in the Reserve Bank’s latest bulletin.

Almost 91% of the $71.9 billion New Zealanders owed at the end of May...

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