Stats show we’re super savers
With a lot of concern flying around about the rising Auckland housing prices you can see in the Real Estate Institute of New Zealand monthly charts, it's always nice to be given some good news or reassurances that it's all going to be okay. And a recent release from Statistics New Zealand might be just the tonic for anyone interested in property investment.
The National Accounts release from this organisation for the year ending March 2014 showed that as a nation, our disposable income has gone up 8.2 per cent. That makes a total of $189.2 billion – more than a few ice creams! Business profits in dairy, financial and construction services were big winners here, but this also saw great flow-on effects for the income of employees.
What's more, we aren't just letting this money burn a hole in our pocket – it looks like New Zealanders are saving it!
"Growth in income outstripped the growth in expenditure across all sectors of the economy," said the director of national accounts Gary Dummett. In fact, this level of growth for expenditure was a mere 3.6 per cent.
That means that as a nation, we saved $2.8 billion together over this period to March this year. Mr Dummett also noted that we are investing more than ever before, too, with investment in fixed assets reaching a new peak at $50.9 billion.
This is what we like to see here at Goodlife Financial Advice – people taking the bull by the horns, and not just saving sensibly, but making investments too. Of course, you can't just jump straight into the first investment opportunity you get! You have to be patient and use the right financial investment advice to guide your decision.
Feel free to speak to us if you're interested in joining the ranks of those Kiwi savers and investors!
Here's to your financial independence!
Authorised Financial Adviser / Investment Property Expert