WELLINGTON, Sept. 26 (Xinhua) -- New Zealand's median household net worth rose 33 percent to 529,000 NZ dollars (305,088 U.S. dollars) in the three years ended June 2024, driven primarily by higher real estate values, Stats NZ reported on Friday.
Owner-occupied dwellings and other real estate accounted for 48 percent of total household assets in the year ended June 2024, up from 43 percent in the year ended June 2021, said a statement from the statistics department.
The wealthiest 20 percent of households saw a 24 percent increase in median net worth to 2.4 million NZ dollars (1.38 million U.S. dollars) in the three-year period, the statement said.
Financial assets, such as pension funds, shares, and investment funds, dominated wealth holdings among the top 20 percent, whereas other households held mostly non-financial assets, such as real estate and durable goods, it said.
Despite these increases, wealth distribution remained largely unchanged since June 2015. The top 20 percent still hold about two-thirds of New Zealand's total household net worth, and the top 10 percent account for 49 percent, slightly down from 53 percent in the year ended June 2015, statistics show.
"This reflects an uneven distribution of wealth in the country," said Stats NZ household financial statistics spokesperson Chris Pooch. ■
