The new figures for mortgage advances shows that confidence is flooding back into the market and both banks and borrowers still see property as one of the the safest bets of all.
And when you think about it it must be one of the safest bets.
Everyone has to have a roof over their heads. It matters not whether that roof is owned, mortgaged or rented.
Somebody owns the roof (and the rest of the property as well).
If banks see property as the best bet, then who are we to argue?
Kiwibank has the largest mortgage market share percentage growth in 2011;
ANZ NZ adds the most volume
March 28, 2012
The quarterly bank disclosure statements are a primary source of market data and enable us to see how each bank’s market share in the all-important mortgage market has changed.
All banks have now reported for the quarter to December 31, 2011, except HSBC, and the winners and losers in this key area can be revealed.
Kiwibank made the biggest market share gain during 2011, raising its share by +0.5% (actually +0.485%) to 6.2% from 5.7%. Kiwibank added more than NZ$1.1 billion to its mortgage book, and this now represents a massive 77.9% of their total banking
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