Household net worth increased 0.2 percent ($5.3 billion) in the September 2023 quarter following a period of decline from the March 2022 quarter, according to figures released by Stats NZ today.
Net worth is the value of all assets owned by households less the value of all their liabilities.
“The September 2023 quarter increase in household net worth reflects a rise in property values for both homeowners and landlords,” national accounts industry and production senior manager Ruvani Ratnayake said.
“The result compares to an average quarterly decline in household net worth of 1.4 percent, or $33.6 billion, over the previous six quarters.”
| Quarter | Change in net worth |
| Jun-16 | |
| Sep-16 | 54174000000 |
| Dec-16 | 25983000000 |
| Mar-17 | 9432000000 |
| Jun-17 | 37443000000 |
| Sep-17 | 32190000000 |
| Dec-17 | 33584000000 |
| Mar-18 | 14994000000 |
| Jun-18 | 7857000000 |
| Sep-18 | 35323000000 |
| Dec-18 | 9927000000 |
| Mar-19 | 22283000000 |
| Jun-19 | -8568000000 |
| Sep-19 | 26401000000 |
| Dec-19 | 37055000000 |
| Mar-20 | 24367000000 |
| Jun-20 | 21119000000 |
| Sep-20 | 70758000000 |
| Dec-20 | 118128000000 |
| Mar-21 | 122794000000 |
| Jun-21 | 97312000000 |
| Sep-21 | 126633000000 |
| Dec-21 | 125100000000 |
| Mar-22 | -17158000000 |
| Jun-22 | -76151000000 |
| Sep-22 | -43056000000 |
| Dec-22 | -12788000000 |
| Mar-23 | -30692000000 |
| Jun-23 | -21757000000 |
| Sep-23 | 5345000000 |
| Quarter | Net worth |
| Jun-16 | 1444497000000 |
| Sep-16 | 1498671000000 |
| Dec-16 | 1524654000000 |
| Mar-17 | 1534086000000 |
| Jun-17 | 1571529000000 |
| Sep-17 | 1603719000000 |
| Dec-17 | 1637303000000 |
| Mar-18 | 1652297000000 |
| Jun-18 | 1660154000000 |
| Sep-18 | 1695477000000 |
| Dec-18 | 1705404000000 |
| Mar-19 | 1727687000000 |
| Jun-19 | 1719119000000 |
| Sep-19 | 1745520000000 |
| Dec-19 | 1782575000000 |
| Mar-20 | 1806942000000 |
| Jun-20 | 1828061000000 |
| Sep-20 | 1898819000000 |
| Dec-20 | 2016947000000 |
| Mar-21 | 2139741000000 |
| Jun-21 | 2237053000000 |
| Sep-21 | 2363686000000 |
| Dec-21 | 2488786000000 |
| Mar-22 | 2471628000000 |
| Jun-22 | 2395477000000 |
| Sep-22 | 2352421000000 |
| Dec-22 | 2339633000000 |
| Mar-23 | 2308941000000 |
| Jun-23 | 2287184000000 |
| Sep-23 | 2292529000000 |
Household non-financial assets (which include buildings and land) increased $2.3 billion this quarter, following falls in the previous six quarters.
Household financial assets also grew, up $5.3 billion, after falling in the previous two quarters. The increase was mainly due to currency and deposits, up $4.2 billion, while equity rose $2.7 billion. Household equity includes the value of rental properties less the associated mortgages held against them.
Offsetting these increases in financial assets was a $1.6 billion fall in insurance and pensions this quarter. The last time pensions fell was back in the June 2022 quarter.
While total household assets rose in the quarter, so too did loan liabilities. Loan liabilities increased $2.3 billion mainly from the increase in residential mortgages.
