Welcome to Centrix’s April Credit Indicator Report, providing you with the most up-to-date credit insights available in New Zealand.
Key highlights for our April report:
- The number of consumers behind on their payments has increased to 463,000 (up 6,000 month-on-month).
- Mortgages in arrears improved slightly during March. There are now 22,100 home loans reported past due, down 500 in the last month but up 13% year-on-year.
- New residential mortgage lending for Q1 2024 was 6% higher than Q1 2023, as rising stock levels contribute to higher property sales volumes.
- Consumer demand for auto finance during Q1 2024 was 17.8% lower than compared to the same period last year.
There were over 230 companies placed into liquidation during March 2024, the highest monthly total since March 2015. One in four companies liquidated during Q1 2024 were from the construction sector.
Centrix is New Zealand’s credit bureau. We release our Credit Indicator Report each month, analysing New Zealand’s credit market, focusing on emerging trends and their possible impacts.
Our Data Sources
We source our data from a wide range of sources, including all of the major trading banks, finance companies, Buy Now Pay Later (BNPL) providers, telcos, utility providers, and other businesses. We are proud to have the most comprehensive account payment data and credit information – covering 95% of New Zealanders, as well as most credit-active companies.
If you are interested in learning more about the information we collect and how it might be of use to you, please don’t hesitate to contact me.
Yours sincerely,
Keith McLaughlin
Managing Director
Centrix Group Ltd
Mobile +64 21 456 180
