Household income stats

Stats NZ reported:

Average annual household income has risen more than 40 percent since 2007, increasing at twice the rate of inflation, Stats NZ said today. Over the same period, average annual housing costs increased just over 50 percent.

Since 2007, average annual household income is up nearly $30,000 (42.0 percent), to reach $98,621 (before tax) in 2017. Over the same 10 years, average annual housing costs increased from $10,658 to $16,037 (up 50.5 percent), according to the latest household income and housing-cost statistics. Inflation, as measured by the consumers price index, increased 20.2 percent.

So the average household has 20% greater purchasing power than a decade ago. Also not this is before tax so the tax cuts would mean it has been greater than this

Lots of interesting data here such as:

• Average HH income up 42% to $98,621
• Median HH income up 34% to $77,250
• Average personal income up 45% to $51,945
• Median personal income up 41% to $40,000
• Ratio of average housing costs to average HH income was 15.4% in 2007 and 16.4% in 2017
• 40% of all households have income of over $95,000 a year.
• 30% of all adults have personal income of over $57,000 a year