• A buoyant property market is making Kiwis feel wealthier, and giving consumers confidence to splurge on big-ticket items such as cars and holidays.

Retail spending in New Zealand has increased by 4.5 per cent on last year and by 18 per cent since 2012, which retail analysts suggest is directly related to higher house valuations.

A Westpac retail report, tracking spending from June 2012 to June 2016, shows spending in Auckland had increased by 31 per cent.

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New Zealanders tend to hold much of their wealth in housing assets and when house prices rise, households spend more.