Household Net Worth Increases, Wealth Distribution Remains Unchanged

Median household net worth increased over the three-year period ended June 2024, while the distribution of wealth across New Zealand households remained unchanged, according to figures released by Stats NZ today.

In the year ended June 2024, the median net worth of New Zealand households was $529,000. This was 33 percent higher than in the year ended June 2021, when the median household net worth was $399,000.

Net worth is the value of a household’s assets, such as real estate, retirement savings, and shares, less its debts, such as mortgages, credit card debt, and student loans. Half of New Zealand households have more than the median household net worth, and half have less.

The increase in median net worth was largely driven by an increase in the value of real estate. Owner-occupied dwellings and other real estate (not including those owned through trusts or businesses) accounted for 48 percent of total household assets in the year ended June 2024 – up from 43 percent in the year ended June 2021.

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• Household net worth increases, wealth distribution remains unchanged (https://www.stats.govt.nz/news/household-net-worth-increases-wealth-distribution-remains-unchanged/)
• Household net worth statistics: Year ended June 2024 (https://www.stats.govt.nz/information-releases/household-net-worth-statistics-year-ended-june-2024/)

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