New Zealanders' wealth grew by a third in 2021

Rapidly rising house prices and an appreciating currency drove the increase, says the report. (Image: Getty)

Wed, 25 Jan 2023

The housing boom unleashed by the policy response to the covid-19 pandemic, led to a 32% increase in the total wealth of New Zealanders in 2021.That's the finding in Credit Suisse's global wealth report, which found that wealth per NZ adult increased by US$114,000 (NZ$176,000) in 2021 to US$472,150 (NZ$728,000). Credit Suisse said the "rapidly rising house prices combined with an appreciating currency" were behind the increase.Some of those gains will have since been lost in 2022, as house prices fell by 14% and the curre...

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