Household net worth showed little change in the December 2024 quarter, up $834 million to $2,440 billion, 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.
"In the December 2024 quarter, a rise in total household assets was largely offset by a rise in total liabilities, resulting in only a minor change in household net worth," institutional sectors spokesperson James Mitchell said.
In the September 2024 quarter, household net worth was also little changed (down $1.0 billion). In the June 2024 quarter, net worth fell $23.8 billion (1.0 percent).
| Quarter | Change in net worth |
| Dec-18 | 10182000000 |
| Mar-19 | 21134000000 |
| Jun-19 | -9174000000 |
| Sep-19 | 26444000000 |
| Dec-19 | 36124000000 |
| Mar-20 | 25815000000 |
| Jun-20 | 23463000000 |
| Sep-20 | 71226000000 |
| Dec-20 | 118199000000 |
| Mar-21 | 121263000000 |
| Jun-21 | 91781000000 |
| Sep-21 | 122781000000 |
| Dec-21 | 124670000000 |
| Mar-22 | -4667000000 |
| Jun-22 | -55938000000 |
| Sep-22 | -18101000000 |
| Dec-22 | 8791000000 |
| Mar-23 | -4338000000 |
| Jun-23 | -12973000000 |
| Sep-23 | 32616000000 |
| Dec-23 | 21413000000 |
| Mar-24 | 19796000000 |
| Jun-24 | -23774000000 |
| Sep-24 | -1041000000 |
| Dec-24 | 834000000 |
| Quarter | Net worth |
| Dec-18 | 1704018000000 |
| Mar-19 | 1725152000000 |
| Jun-19 | 1715978000000 |
| Sep-19 | 1742422000000 |
| Dec-19 | 1778546000000 |
| Mar-20 | 1804361000000 |
| Jun-20 | 1827824000000 |
| Sep-20 | 1899050000000 |
| Dec-20 | 2017249000000 |
| Mar-21 | 2138512000000 |
| Jun-21 | 2230293000000 |
| Sep-21 | 2353074000000 |
| Dec-21 | 2477744000000 |
| Mar-22 | 2473077000000 |
| Jun-22 | 2417139000000 |
| Sep-22 | 2399038000000 |
| Dec-22 | 2407829000000 |
| Mar-23 | 2403491000000 |
| Jun-23 | 2390518000000 |
| Sep-23 | 2423134000000 |
| Dec-23 | 2444547000000 |
| Mar-24 | 2464343000000 |
| Jun-24 | 2440569000000 |
| Sep-24 | 2439528000000 |
| Dec-24 | 2440362000000 |
Total household assets rose $4.3 billion (0.2 percent) in the December 2024 quarter - a rise in financial assets was partly offset by a fall in non-financial assets.
Financial assets rise
A rise in total financial assets of $11.2 billion (0.7 percent) was due to increases in household deposits (up $6.5 billion or 2.5 percent) and household insurance and pension assets (up $4.7 billion or 2.8 percent).
In the year ended December 2024, household deposits (comprising both transferable and term deposits) increased $17.5 billion (7.0 percent), compared with the previous year. Household insurance and pension assets (the large majority of which are superannuation funds like KiwiSaver) increased $21.7 billion (14 percent) over the same period.
Non-financial assets fall
Household non-financial assets (the value of owner-occupied property) fell $6.9 billion in the December 2024 quarter - a fall of $10.5 billion in the value of land was partly offset by a rise in the value of buildings.
"In the December 2024 quarter, rises in the value of a number of household assets, including deposits, pensions, and buildings, was partly offset by a fall in the value of land," Mitchell said.
| Asset class | $ |
| Buildings | 7375000000 |
| Currency and deposits | 2519000000 |
| Insurance and pensions | 661000000 |
| Equity | -27019000000 |
| Land | -28507000000 |
Household financial liabilities (comprising residential, consumer, and student loans) increased $3.4 billion (1.1 percent), continuing a relatively steady increase seen in recent quarters. The increase was driven by increases in housing loans (up 1.3 percent) and consumer loans (up 0.8 percent), partly offset by a decrease in student loans (1.0 percent).
