By Gareth Vaughan
ANZ dominated residential mortgage market net growth in the December quarter, the first one where Reserve Bank restrictions on high loan-to-value ratio (LVR) lending were in place, with the growth of its mortgage book almost as big as that of its main four rivals combined.
ANZ recorded net growth in its home loan book of just under $1.3 billion in the three months to December 31, 2013, the equivalent of about 2.3%, to a shade under $57.9 billion. Combined, ASB, BNZ, Kiwibank and Westpac recorded net growth of $1.349 billion. Whilst these figures are net as opposed to new mortgage growth, they do suggest ANZ was well prepared for the introduction of high LVR restrictions.
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