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

 

Tax: GST Threshold For Online Purchases Won't Lower Before 2018

The government wants to lower the threshold on online purchases which qualify for GST from mid-2018, but says more work is needed and there will be no change without public consultation. More>>

ALSO:

North Canterbury: Government Extends Drought Classification

The government has extended a drought classification for the eastern South Island until the end of the year, meaning the area will have officially been in drought for almost two years, the longest period for such a category. More>>

ALSO:

Negotiations Fail: Christchurch Convention Centre Build To Proceed Without PCNZ

After protracted negotiations, the government has ditched the construction consortium it picked to build Christchurch's replacement convention centre, which it now anticipates delivering at least two years behind the original schedule. More>>

ALSO:

Ruataniwha: Greenpeace Launches Legal Challenge Against $1b Dam Plan

Greenpeace NZ is launching a legal challenge against a controversial plan to build a dam that’s set to cost close to $1 billion and will pollute a region’s rivers. More>>

ALSO:

Inequality: Top 10% Of Housholds Have Half Of Total Net Worth

The average New Zealand household was worth $289,000 in the year to June 2015, Statistics New Zealand said today. However wealth was not evenly distributed, with the top 10 percent accounting for around half of total wealth. In contrast, the bottom 40 percent held 3 percent of total wealth. More>>

ALSO:

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news