New Zealand households still struggle with high housing expenses.

In June 2024, around 20% of New Zealand households dedicated 40%+ of their income to housing, up from 18.2% the previous year, as per Stats NZ. On average, households spent 22.2 NZ dollars per 100 NZ dollars on housing during this time, rising from 20.8 NZ dollars in 2019.

In New Zealand, a significant portion of low-income households, about one-third, allocated more than 40% of their income to housing costs as of June 2024. This trend, noted by the department, reflects a higher housing expenditure relative to past years despite income growth. Stats NZ mentioned that this places additional strain on household budgets, especially amid rising costs for essentials like groceries and fuel.

Statistics indicate a 5.5% rise in average household disposable income, while weekly rent and mortgage payments increased by 9% and 8.7% respectively from June 2023 to June 2024. Xinhua news agency reported that 38.2% of households found their income insufficient for daily needs, a figure that has increased in the past two years.

Approximately 14.8% of homeowners spent over 40% of their disposable income on housing costs in the year ending June 2024, facing rising pressure from mortgage payments.

Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.