Statistics NZ’s has re-released its household income and housing-cost statistics because of an error which increases average household income over the last ten years from 42 to 50.5 per cent
The average annual household income reached $104,583 (before tax) in 2017, not $98,621 as originally published on October 19 2017.
The error arose from calculations using the count of all dwellings in New Zealand rather than the count of all usually occupied dwellings, says Stats NZ media spokesperson Sean Broughton.
This means the average annual household income data was lower than it should have been.
“Stats NZ is an open and transparent organisation and corrects errors as soon as practicable,” says Sean. “We have rigorous processes to check data before publication. We review any error to reduce and mitigate future risks.
“We regret the error and apologise for any inconvenience caused.”
The adjusted figures mean average annual personal income was $51,375, up 6.5 per cent from 2016. Average annual personal income for females increased at a higher rate at 7.7 per cent than for males at 5.7 percent, when compared with 2016.
For every $100 of household income, New Zealand households spent an average of $15.80 on housing costs, with about one in nine or 11.1 per cent of households spending 40 percent or more of their total household income on housing costs.
While 65 per cent of respondents report their income is enough or more than enough to meet their everyday needs, 10 per cent say they don’t have enough to get by.
Most, or 83 per cent of respondents, say they are satisfied or very satisfied with their life in general.