Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Slight rise in incomes while housing costs are unchanged

Slight rise in incomes while housing costs are unchanged – Media release

Incomes showed a slight increase for the year ended June 2012, while housing costs were unchanged, Statistics New Zealand said today.

Average annual household income from all regular sources increased slightly from the year ended June 2011 to the year ended June 2012 – up 2.3 percent, from $79,256 to $81,067. Average weekly total housing costs were unchanged, at $249.

Contributing to this slight rise in household income was an increase in average annual household income from wages and salaries. This rose 5.4 percent over the past year, up from $77,843 to $82,029.

Within total housing costs, a slight increase in average weekly rent payments (from $261 to $273) was offset by a slight decrease in average weekly mortgage payments (from $375 to $357). The slight change in mortgage payments was due to a decrease in average weekly mortgage interest payments (from $254 to $234) over the survey period. Average weekly mortgage principal repayments were unchanged, at $147.

Because household income increased slightly while total housing costs were unchanged, the proportion of housing costs to household income decreased slightly over the past year (from 16.4 percent to 16.0 percent).

These results come from the Household Economic Survey (Income), which is a shortened version of the three-yearly full Household Economic Survey. It ran for the first time in the year ended June 2008. The shorter survey runs in each of the two years between the full survey – to collect data on household and personal income, living standards, and housing costs. Total housing costs include household expenditure on mortgages and loans, rent, rates, and building-related insurance.

ENDS

For more information about these statistics:
• Visit Household Economic Survey: Year ended June 2012

• Open the attached files
http://img.scoop.co.nz/media/pdfs/1211/HouseholdEconomicSurveyYeJun12.pdf

http://img.scoop.co.nz/media/pdfs/1211/hesYEjun12tables.xls

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Real Estate: Investors Driving Up Auckland Housing Risk - RBNZ

The growing presence of investors in Auckland's property market is increasing the risks, and is likely to both amplify the housing cycle and worsen the potential damage from a downturn both to the financial system and the broader economy, said Reserve Bank deputy governor Grant Spencer. More>>

ALSO:

Annual Record: Overseas Visitors Hit 3 Million Milestone

Visitor arrivals to New Zealand surpassed 3 million for the first time in the July 2015 year, Statistics New Zealand said today. The record-breaking 3,002,982 visitors this year was 7 percent higher than the July 2014 year. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news