How Much Has New Zealand's Median Household Net Worth Increased?
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Synopsis
Discover the recent findings from Stats NZ revealing a 33% rise in New Zealand's median household net worth. While the increase is impressive, the stark wealth gap remains a concern. Join us as we explore the implications of these statistics and what they mean for New Zealand's economy.
Key Takeaways
- Median household net worth in New Zealand increased by **33%**.
- Real estate values are the main driver of this growth.
- The top **20%** hold **two-thirds** of total net worth.
- Food prices rose **5%**, largely due to dairy products.
- Wealth distribution remains largely unchanged since **2015**.
Wellington, Sep 26 (NationPress) The median household net worth in New Zealand has increased by 33 percent to 529,000 NZ dollars (approximately 305,088 US dollars) over the three years ending June 2024, primarily attributed to rising real estate prices, reported Stats NZ on Friday.
In the year concluding June 2024, owner-occupied homes and other real estate comprised 48 percent of total household assets, an increase from 43 percent reported in the year ending June 2021, according to a statement from the statistics department, as noted by Xinhua News Agency.
The top 20 percent of households experienced a 24 percent rise in median net worth, reaching 2.4 million NZ dollars (about 1.38 million US dollars) during this three-year span, the statement revealed.
Among the wealthiest households, financial assets such as pension funds, stocks, and investment funds made up the majority of wealth holdings, while other households mainly possessed non-financial assets like real estate and durable goods.
Despite these gains, the distribution of wealth has remained largely unchanged since June 2015. The richest 20 percent continue to control about two-thirds of New Zealand's total household net worth, and the top 10 percent account for 49 percent, a slight decrease from 53 percent in June 2015, according to statistics.
"This indicates a disproportionate allocation of wealth in the nation," commented Chris Pooch, a spokesperson for Stats NZ household financial statistics.
On September 16, Stats NZ also reported a 5 percent surge in food prices for the year ending August 2025, maintaining the rate set in July.
The grocery sector, especially dairy products, was the primary contributor to this increase, as noted by Stats NZ.
The cost of 2 liters of milk rose by 16.3 percent to 4.72 NZ dollars (around 2.81 U.S. dollars) for the most affordable options, with cheese prices escalating by 26.2 percent and butter by 31.8 percent.
"Dairy products are the leading factor behind the increased annual food prices," stated Nicola Growden, a spokesperson for Stats NZ prices and deflators.
Since December 2023, the price of 2 liters of milk has gone up by 88 cents, according to Growden.
Meat, poultry, and fish saw the next largest rise at 8.1 percent year-on-year, driven by increases in beef steak, beef mince, and lamb leg, as per statistics.
Point of View
I emphasize the importance of understanding the implications of rising household net worth amid an ongoing wealth divide. This report from Stats NZ sheds light on significant economic shifts that affect all New Zealanders, and it is crucial to address both the opportunities and challenges presented by these changes.
NationPress
26/09/2025
Frequently Asked Questions
What is the current median household net worth in New Zealand?
As of June 2024, the median household net worth in New Zealand is **529,000 NZ dollars** (approximately **305,088 US dollars**).
What has driven the increase in household net worth?
The increase has primarily been driven by **higher real estate values** over the past three years.
How much of New Zealand's net worth is held by the wealthiest households?
The top **20 percent** of households hold about **two-thirds** of New Zealand's total household net worth.
What trends are seen in food prices?
Food prices surged by **5 percent** over the year leading to August 2025, mainly due to rising costs in the grocery sector, especially dairy products.
Has the wealth distribution changed over recent years?
The distribution of wealth has remained largely unchanged since June 2015, indicating a **disproportionate allocation** of wealth.
