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Bills rising faster than incomes, thanks to housing costs

Friday 2 Dec 2016 12:45 p.m.

Weekly expenditure is up 17 percent since 2013 (Getty)

Weekly expenditure is up 17 percent since 2013 (Getty)

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Almost a third of all Kiwi households are spending more than a quarter of their income on keeping a roof above their heads.

New figures released by Statistics NZ on Friday show in the last three years, housing costs have contributed an outsized share of the growth in household spending.

Weekly expenditure is up 17 percent since 2013, while household income has only risen 11 percent, to $95,898 (before tax).

In dollar terms it's up $190, with housing costs - including mortgage and rent payments, maintenance, rates and power - making up almost a third of that.

Other spending that's gone up includes eating out (up 50 percent to $25 a week) and buying vehicles (up $27 to $75 a week).

Nationwide house values rose about 34 percent in the same time, according to Quotable Value. In Auckland they rose 52 percent.

Newshub.

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