Income up for households

18:38, Nov 29 2012

For households with at least one wage or salary earner, the average income rose more than 5 per cent in the past June year to little more than $82,000 for the family, says Statistics New Zealand.

During the same period, general inflation rose just 1 per cent, leaving wage-earning households better off.

Average housing costs were unchanged in the June year, with slightly higher rents offset by lower mortgage payments, reflecting falling interest rates.

For households with a mortgage, average weekly payments fell almost 5 per cent in the past year to $357 a week, easing the pressure on household budgets.

 But those paying rent have been squeezed harder in the past year, with average household rents up almost 5 per cent to $273 a week.

About 35 per cent of all households pay rent. Taking into account households without a wage earner, such as those relying on a pension or welfare, total average household incomes rose only 2.3 per cent.


Taranaki Daily News