Strong increase in household wealth
Income and consumption
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

Households' income and wealth2012

The statistics is published with Income and wealth statistics for households.



Strong increase in household wealth

Average net worth for Norwegian households was NOK 2 million in 2012. This was 8 per cent higher than the year before.

Property account for households
20122011 - 2012
Average for households with different property holdings (NOK)Part of household with different property code (per cent)NOK millionPercentage change
Estimated real capital2 782 60081.95 119 02010.6
Estimated market value primary dwelling2 795 10067.44 229 03210.4
Estimated market value secondary dwelling2 125 00010.6506 25818.5
Taxable gross financial capital813 90098.91 806 9395.5
Bank deposits384 90098.8853 8968.3
Shares and other securities1 391 40021.1658 1243.1
Share of unit trusts, bond and money market funds130 70031.793 1337.8
Foreign taxable wealth295 6005.335 3970.1
Estimated gross wealth3 116 40099.06 925 9599.2
Debt1 325 70083.52 485 1337.5
Study debt185 40023.497 5506.1
Estimated net wealth1 988 80099.44 440 82610.2
Positive net wealth2 550 10081.34 653 8748.9
Negative net wealth-522 30018.2-213 048-11.9
Property taxes28 90019.912 9094.5
Figure 1. The proportion of households with debt 3 times larger than the size of total household income

There was a substantial rise in non-financial wealth in 2012, the principal wealth holding of Norwegian households. The total value of primary and secondary dwellings rose by 10 per cent and 18 per cent respectively. The value of non-financial assets grew faster than both financial wealth and liabilities in 2012.

Highest net worth among younger pensioners

Households where the main income earner was aged 67 to 79 had the highest average net worth in 2012, at NOK 3.2 million. Even households headed by someone aged 55 to 66 had a mean net worth exceeding NOK 3 million. More than half of all households had a net worth of more than NOK 1 million in 2012.

Small reduction in inequality

The distribution of net worth is highly skewed. Households in the highest net worth decile held 49 per cent of total net worth in 2012, while 18 per cent of total net worth was held by households in the top 1 per cent of the wealth distribution. The wealth distribution has, nevertheless, become slightly less unequal in recent years. In 2010, the highest net worth decile held 51 per cent of total net worth.

Increase in liabilities

On average, all households had NOK 1.1 million in debt in 2012. This was an increase of 5.6 per cent from the previous year. Households with the highest income saw the strongest rise in debt in 2012, while households at the bottom of the income distribution saw a reduction in average debt.

More people are facing a high debt as a proportion of household income. In 2012, 15.2 per cent of all households had a debt that was three times their income. This was up from 14.6 per cent in 2011.

Assessed market value of own dwelling Open and readClose

The values for private dwellings are based on a model developed by Statistics Norway where house prices are calculated for all dwellings based on the actual selling price of a majority of dwellings sold on the private market. Data from this model is currently used by the Directorate of Taxes when assessing tax values for the principal residence and other private dwellings. In the tax return, the principal dwelling is assessed at a value of 25 per cent of assessed market value, while other private dwellings are valued at 40 per cent of market value.In the wealth statistics, the full market price is applied. Further information on the wealth statistics can be found in the report: Wealth distribution in Norway .