Record January home lending

A total of $4.7 billion was lent for New Zealand home loans in January, a higher figure than any January over the past five years. The RBNZ's data goes back to August 2014. 

The figure dwarfed the $4.05 billion lent in January 2019, and the $3.6 billion lent in January 2018, the data shows. 

The statistics add further weight to the resurgent housing market, boosted at the back end of last year by a U-turn on capital gains tax and record low official cash rate levels.

Aggressive price wars between mortgage providers have added further fuel to the housing market in recent months, with economists predicting house price inflation of up to 7% this year.