{"id":116793,"date":"2025-11-04T04:06:12","date_gmt":"2025-11-04T04:06:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/116793\/"},"modified":"2025-11-04T04:06:12","modified_gmt":"2025-11-04T04:06:12","slug":"consumer-confidence-and-lower-interest-rates-driving-mortgage-activity","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/116793\/","title":{"rendered":"Consumer confidence and lower interest rates driving mortgage activity"},"content":{"rendered":"\u201cThe continued decline in the OCR is beginning to reshape New Zealand\u2019s credit landscape, providing a much-needed boost to both households and businesses,\u201d McLaughlin said.<\/p>\n
New non-mortgage lending, including credit cards, vehicle and personal loans, rose 10.3% year on year.<\/p>\n
Meanwhile, the number of people behind on their payments improved to 465,000 \u2013 or 11.99% of the active credit population \u2013 in September, down 3000 compared with August.<\/p>\n
\u201cDespite the challenging economic environment persisting, credit trends show some hopeful signs of recovery emerging,\u201d McLaughlin said.<\/p>\n
But McLaughlin said the recovery was unevenly distributed, with a clear divide emerging between the North Island and South Island.<\/p>\n
\u201cThe South Island shows strong credit improvement, driven by lower arrears and renewed lending growth,\u201d he said.<\/p>\n
\u201cDairy farming confidence is high, construction outlook is improving, and hospitality trading performance is holding up well.\u201d<\/p>\n
McLaughlin said the Bay of Plenty, Waikato, Auckland, Manawat\u016b and Hawke\u2019s Bay are showing moderate recovery.<\/p>\n
This was led by agriculture activity in the rural areas, with construction pipelines picking up in some areas.<\/p>\n
\u201cNorthland, Gisborne, Taranaki and Wellington continue to lag, with elevated arrears and business liquidations,\u201d he said,<\/p>\n
\u201cConstruction and [the] housing market remain slow.\u201d<\/p>\n
Company liquidations also show signs of improvement in seven of the 19 industry sectors reported on, according to Centrix.<\/p>\n
Construction remains the leading industry for company liquidations, with 726 firms liquidated in the past year \u2013 an increase of 23% compared with the previous year.<\/p>\n
\u201cHowever, this accounts for only 0.9% of all registered companies in the sector,\u201d McLaughlin said.<\/p>\n
Hospitality is the second-highest industry in terms of company liquidations, with 303 recorded in the past year \u2013 up 41% year on year.<\/p>\n
Listen and subscribe to the Today in Business<\/a> podcast \u2013 the top headlines from the NZ Herald business team summarised and delivered by an AI voice as an easily digestible recap.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cThe continued decline in the OCR is beginning to reshape New Zealand\u2019s credit landscape, providing a much-needed boost…\n","protected":false},"author":2,"featured_media":116794,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[5003,3225,3041,95,16425,138,82880,2950,3311,5341,4190,4189,4493,12469,11534,2513,16400,111,139,69,7676,13382,8037],"class_list":["post-116793","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-activity","tag-according","tag-agency","tag-and","tag-appears","tag-business","tag-centrix","tag-confidence","tag-consumer","tag-credit","tag-demand","tag-driving","tag-increased","tag-interest","tag-lending","tag-lower","tag-mortgage","tag-new-zealand","tag-newzealand","tag-nz","tag-rates","tag-returning","tag-september"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/116793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=116793"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/116793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/116794"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=116793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=116793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=116793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}