Average household net worth up $60,000

Spicers' Household Savings Indicators quarterly survey said households collectively had assets of $478 billion at the end of last year, against debts of $120 billion.

But households are piling on new debt faster than asset values are rising. In the last three months of 2004, the value of the housing stock rose 2.9 per cent and all household assets rose 2.7 per cent, but debt rose 3.7...