New Zealand's net worth slightly fell in 2023, with households hit hard but government wealth rising.

New Zealand's net worth fell by 0.4% in the March 2023 year, dropping to $2.8 trillion. Household net worth declined by 2.8% due to falling property prices, while government net worth rose by $37 billion. The banking sector reported a 3.3% increase in financial assets. Despite a $3.1 billion government operating deficit in the year ended June 2024, net worth increased by $20.6 billion to $464.6 billion, largely due to higher asset values.

November 28, 2024
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