In both countries, the ratios to income have been affected by commodity price movements, initially favourably and then negatively by lowering entrepreneurial incomes. The ratios to wealth are less affected.
14  Figure 11: Household debt and wealth % of disposable income  ratio  200  0.26  New Zealand household debt Australia household debt New Zealand debt-to-wealth ratio (RHS) Australia debt-to-wealth ratio (RHS)  180 160  0.24 0.22  140 0.20 120 0.18 100 0.16  80  0.14  60 40  1990  1994  1998  2002  2006  2010  2014  0.12  Source: RBNZ, Haver Analytics.