The housing market bulls could happily trumpet a 23% year-on-year rise in mortgage advances for the January 2024 month, according to new figures. They saw their share of mortgage money hit an all-time high in December of 25.2%. The January 2024 figures show that in the month the FHB grouping took $822 million of mortgage money, which is 24.1% of the total. On an annual basis the investor grouping went from a 32% share of the total mortgage monies advanced, to just 17% last year. The FHB grouping, which long languished behind investors in terms of the monthly total of borrowing, has now had a higher monthly total than the investors each month since March 2022.

Source: New Zealand Herald February 28, 2024 01:03 UTC