Household wealth fell in Sept quarter even as savings rocketed

Overall household net worth stood at $2,250 billion at September 30. (Image: Depositphotos)

Thu, 19 Jan 2023

Household net worth fell by 2.5%, or $56.8 billion, in the September quarter of 2022, mostly because of house prices falling.That was despite household saving increasing by more than 31% to $2.2b in the three months ended September, according to Statistics New Zealand figures released today.“Increases in incomes have meant that household saving increased during the September quarter, despite price rises and higher interest rates contributing to higher household spending,” said Paul Pascoe, StatsNZ's senior manager of the nationa...

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