New Zealanders are getting less wealthy and saving less money, according to new Stats NZ data.

The region's collective household net worth dropped $42.7 billion or 1.9 per cent, in the March 2023 quarter.

The data shows the value of financial assets also fell, by $8.3 billion.

NZ Herald business editor at large Liam Dann says falling house prices and reversing pandemic stimulus are the key factors.

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