Soaring property prices have helped to lift New Zealanders’ combined net worth to just over $1.39 trillion.

That figure, calculated at the end of March 2015, was up 9 per cent on the year before, Statistics NZ said.

“Net worth reflects the balance of what New Zealanders own and what they owe – that is, assets minus debts held by households and government,” national accounts senior manager Gary Dunnet said. Except for a 3 per cent decline in 2009, net worth has grown steadily since 2007 – from just over $1 trillion in 2007 to $1.39 trillion in 2015.

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