Activity in the housing market is holding its own against the rising cost of borrowing

New Zealand Banking Association's revealed almost 30 percent more home loans were taken out from June to December 2023, than the previous six months.

Chief executive Roger Beaumont says it's surprising to see - given the challenges in the economy right now.

He says more people are moving from paying off principal and interest on their loans, to interest-only repayments.

Beaumont says thinking about household expenses and how to get through a high interest rate environment, is sensible.