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House prices boost wealth
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A strong housing market is pushing up household wealth, with New
Zealanders' net worth topping $220 billion at the end of 2002 -- up
5.6 per cent on the previous year.
Household net worth, including houses, cash, shares, and the like,
but less debt, is now $11.7b higher than a year earlier, according to
the latest Westpac Household Savings Indicators, compiled by NZIER
and Morningstar.
The rise in household wealth reflected the relative good fortunes
of the New Zealand economy ...
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