Non-performing housing loans topped the $1.5 billion mark at the end of 2023 and rose by some 78.5% ($667 million) during the year. That's the 'headline' news if you like, but to give it some perspective, the latest non-performing loan figure represents 0.43% of total housing loans ($349.687 billion). To fill in some detail, the total 'system' non-performing loans as at December 2023 were $3.552 billion, which makes up 0.64% of the total loans of $556.605 billion. As at December 2022 the system wide non-performing loans had stood at $2.143 billion. The percent of non-performing commercial property loans has risen from 0.2% to 09% in that period, with total commercial property loans standing at $42.751 billion.

Source: Stuff February 01, 2024 00:41 UTC