The week in numbers

  • Household borrowing accelerated to 13.6%pa in June
  • Non-residential consents softened in June, but the June quarter was relatively strong, with Factory and commercial consents elevated
  • Residential consents lifted strongly in June, on the back of robust house price growth.  Wellington was a top performer

Most of this weeks data was expected.  However, after the RBNZ said household borrowing was easing, the continued growth in borrowing came as a surprise.