People are spending more on housing, as shown by the latest Household Economic Survey.

Home-owners are also spending more on their mortgage principal, rather than just interest.

The survey shows average annual household income has increased in the last couple of years.

It's now almost $89,000.

The average amount each household is spending per week has also risen, to almost $300.

Mortgage and rent payments are up, with people spending about 16% of their income on housing.

That includes mortgages, rent, rates and insurance.