Housing boom boosts household net wealth

Overall wealth rose $1 billion or 0.5%, driven largely by a 1.4% rise in house values, to a total $211.9 billion. The housing market was having its biggest boom since 1997.

"Good population growth, driven by a rise in net migration, has seen a surge in the demand for housing, particularly rental demand," WestpacTrust economist Donna Purdue said. "With this type of accommodation supply constrained, prices have been rising, increasing the return to home owners and hence household wealth."

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

MMH - Marsden Maritime Holdings (MMH) releases Scheme Booklet
CVT - Comvita announces change to Board of Directors
TRU - Published Saudi Arabia Study Confirms TruScreen's Results
May 1st Morning Report
TruScreen Re-enters India Appinting New Distributor
April 30th Morning Report
CMC - Appointment of Director
General Capital subsidiary General Finance update
AIA - releases long-term blueprint for the future
April 29th Morning Report