{"id":400778,"date":"2026-04-28T01:23:09","date_gmt":"2026-04-28T01:23:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/400778\/"},"modified":"2026-04-28T01:23:09","modified_gmt":"2026-04-28T01:23:09","slug":"more-than-a-quarter-of-mortgaged-households-have-more-than-one-mortgage","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/400778\/","title":{"rendered":"More than a quarter of mortgaged households have more than one mortgage"},"content":{"rendered":"

Approximately 300,000 New Zealand households have more than one mortgage, according to the latest retail banking data from the New Zealand Banking Association (NZBA).<\/p>\n

The figures show there were 1.1 million bank customers with 1.4 million residential mortgages between them at the end of last year, which means 300,000 (27%) of those customers had more than one mortgage.<\/p>\n

The average mortgage size was $345,692, up 5.0% compared to the end of June last year.<\/p>\n

There were 70,811 new mortgages issued in the six months to the end of December, up 17.5% compared to the first half of last year.<\/p>\n

Almost a quarter (24.4%) of the new mortgages issued in the second half of last year were to first home buyers.<\/p>\n

The average value of all new mortgages issued in the second half of 2025 was $392,519, down by 3.0% compared to the first half of the year. The average size of the mortgages taken out by first home buyers was $524,850, up 3.4% compared to the first half of the year.<\/p>\n

Of the 1.4 million mortgages in place at the end of 2025, 1.4% (19,600) were behind on their repayments, while 42.9% (600,600) were ahead, with 6158 customers being granted hardship status in the second half of last year.<\/p>\n

There were 2,150,000 bank customers with an active credit card at the end of last year, down 0.4% from the first half of the year.<\/p>\n

The average monthly credit card spend was $2287, up 10.3% on the first half of the year, and 68% of cards had their balances paid in full without incurring interest charges, up 0.9% compared to the first half of the year.<\/p>\n

On the other side of the ledger, bank customers had $114 billion held in savings accounts, with an average balance of $16,493 at the end of December, up 6.5% compared to the end of June.<\/p>\n

Another $195 billion was held in term deposits, with an average balance of $113,385 at the end of December, up 5.2% compared to the end of June.<\/p>\n

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