Every month Centrix releases the ‘Credit Indicator Report', which analyses New Zealand's credit data, focusing on emerging trends and their possible impacts.
This report helps paint a picture of the current economic climate and consumer confidence.
The September Credit Indicator shows that the number of people behind on payments continues to increase.
Key insights from the September report include:
- The number of people that are behind on their payments has risen to 461,000, up from 5,000 month-on-month.
- Mortgage arrears have improved, with 20,700 home loans reported as past due, up by 300 from last month, which is 12% higher year-on-year.
- One in four companies placed into liquidation is from the construction sector. In the last 12 months, 546 construction companies were liquidated.
- Small business owners have been facing higher levels of mortgage stress in the last couple of years.
VIEW THE FULL REPORT HERE