Soaring house prices have raised New Zealanders’ combined net worth to over $1.39 trillion, up 9% in a year.
• Acc. to Statistics NZ, net worth has grown steadily from $1 trillion in 2007 to $1.39 trillion in 2015, & household net worth rose from $319 billion (35%) to $1,236b.
• Investment in land & buildings was a main contributor to this increase, although this was partly offset by increased mortgage debt.
• The value of all assets owned by New Zealanders was nearly $4 trillion ($3,953b) in 2015 – $2,404b financial assets & $1,549b non-financial assets.
• Meanwhile, all financial liabilities totalled $2,557b in 2015, while the net amount Kiwis owed to the rest of the world rose from $130b to $153b.
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