{"id":17552,"date":"2026-06-03T06:02:32","date_gmt":"2026-06-02T18:02:32","guid":{"rendered":"https:\/\/thebuzz.apnanetwork.co.nz\/?p=17552"},"modified":"2026-06-03T06:02:32","modified_gmt":"2026-06-02T18:02:32","slug":"more-than-130000-people-have-a-mortgage-over-1m","status":"publish","type":"post","link":"https:\/\/thebuzz.apnanetwork.co.nz\/?p=17552","title":{"rendered":"More than 130,000 people have a mortgage over $1m"},"content":{"rendered":"<p>The number of people with a seven-figure mortgage has ballooned over recent years.<\/p>\n<p>Credit bureau Centrix has released its latest update, that shows the number of people with a mortgage larger than $1 million has increased 15 percent year-on-year.<\/p>\n<p>There are now 134,000 homeowners in that category. Joint borrowers who own a house together could be counted twice.<\/p>\n<p>At the end of 2019, fewer than 51,000 people had a mortgage over $1m.<\/p>\n<p>At an interest rate of 5.62 percent, a $1m mortgage would cost $5754 a month to service over 30 years.<\/p>\n<p>Another 18,000 people are responsible for mortgages above $2m. That was up from about 5000 in 2017, 6000 in 2019 and 13,000 in 2022.<\/p>\n<p>A $2m mortgage on the same terms would be $11,500 a month.<\/p>\n<p>&#8220;There&#8217;s been significant growth over the years,&#8221; Centrix chief operating officer Monika Lacey said.<\/p>\n<p>It follows Westpac earlier telling RNZ that\u00a0<a href=\"https:\/\/www.rnz.co.nz\/news\/business\/595275\/the-rise-of-the-million-dollar-mortgage\">one in six of its new mortgages<\/a>\u00a0were for more than $1m.<\/p>\n<p>rnz<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The number of people with a seven-figure mortgage has ballooned over recent years. Credit bureau Centrix has released its latest update, that shows the number of people with a mortgage larger than $1 million has increased 15 percent year-on-year. There are now 134,000 homeowners in that category. Joint borrowers who own a house together could [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":17553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[222,174],"tags":[],"class_list":["post-17552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","category-nz-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/17552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17552"}],"version-history":[{"count":1,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/17552\/revisions"}],"predecessor-version":[{"id":17554,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/17552\/revisions\/17554"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/media\/17553"}],"wp:attachment":[{"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}