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More households with high level of debt
statistikk
2008-04-14T10:00:00.000Z
Income and consumption
en
ifformue, Households' income and wealth, household income, household type (for example single, couples with children, couples without children), wealth, debt, capital accounts, bank deposits, student loanIncome and wealth, Income and consumption
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Households' income and wealth, 2006

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More households with high level of debt

Between 2000 and 2006, the proportion of households with debt three times the size of household income increased from 6 to 12 per cent.

More and more households increase their level of debt. In 2006, 12 per cent of all households (250 000 households), had debt more than three times the size of income. Households with a total income between NOK 300 000 and 400 000, have the highest level of debt. In 2006, 16 per cent of these households had a high level of debt compared to their income.

Increased indebtedness

From 2000, households have increased their debt. In 2006, average dept per household was NOK 772 000. This is 10.6 per cent higher than in 2005. The increase in debt was modest from 2004 to 2005 among household with low income. From 2005 to 2006, however, households with low income had the highest increase in debt.

Average debt and per cent changes in average debt for households1 in different deciles for total hosehold income. 2004, 2005 og 2006. NOK and per cent
Deciles           2004           2005           2006   2004-2005   2005-2006
1  140 000  149 000  172 000 6.2 15.7
2  169 000  188 000  208 000 11.1 10.8
3  249 000  284 000  317 000 14.1 11.6
4  361 000  411 000  455 000 13.7 10.8
5  480 000  534 000  590 000 11.2 10.5
6  614 000  682 000  755 000 11.1 10.7
7  774 000  857 000  947 000 10.7 10.5
8  918 000 1 008 000 1 117 000 9.8 10.8
9 1 038 000 1 147 000 1 275 000 10.5 11.1
10 1 514 000 1 724 000 1 882 000 13.9 9.2
           
All  626 000  698 000  772 000 11.5 10.6
           
Number of households 1 996 634 2 017 335 2 051 473    
1  Students not included.

One in ten households has more than NOK 2 million in debt

When we compare different types of household, we see that families with children have the highest level of debt. The average debt of couples with children (below 6 years old) was NOK 1.5 million in 2006, compared with NOK 121 000 for single old-age pensioners.

Nearly one in ten households had more than NOK 2 million in debt in 2006, and 3 per cent (about 60 000 households), had more than NOK 3 million in debt.

One in five households does not have debt

In 2006, nearly one out of five households had no debt at all. This applied to one in four households ten years ago. It is primarily old-age pensioners living alone who have no debt. Nearly six out of ten old-age pensioners living alone had no debt in 2006.

Underlying data

The statistics include all private households excluding student households. In addition to registered cash income received by households, the statistics also include debt and wealth registered in the tax assessment. Thus the valuation of the wealth is based on the assessment value. This means that the statistics show a lower value on some objects than the market value. This primarily applies to real properties (for instance private homes), but also parts of the financial capital (shares and bonds). The property value is also affected by changes in the tax rules. As of 2004, the household income statistics have been based solely on register data, including all persons in private households living in Norway at the end of the year. Persons in student households are not included. See “ About the statistics ” for more information .

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