Wealth falls, inflation drops but lower OCR still a way off
Household net worth has fallen by $255.2 billion over the past six quarters, following a period of growth up to the December 2021 quarter, when it peaked at a total value of $2,433 billion.
That’s a reduction of nearly 10.5%, data from Stats NZ’s latest household net worth figures show.
"This quarter’s decrease in household net worth was mainly due to the continuing fall in equity and investment fund shares and value of owner-occupied property," Paul Pascoe, Stats NZ's national accounts institutional sectors senior manager says.
Equity and investment fund shares fell by $19.9 billion or 2.2% in the quarter. Equity includes the ownership of rental properties, which has also been affected by falling property values.
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