The distribution of debt in Australia remains skewed toward high-income households, which hold the majority of debt, an analysis by the RBA of data from the Household, Income and Labour Dynamics in Australia survey shows.The top income quintile held almost 50 per cent of the stock of household debt in 2014, the RBA said in an article in its June Bulletin.Almost a third of households held no debt, with the majority of these being retired households.Over the four years to 2014 about 40 per cent of households increased their levels of nominal debt, while a similar share of households reduced their holdings of debt. The RBA said the remaining quarter of households maintained the same, mostly negligible, amount of debt over the period. Property debt accounted for a little over 80 per cent of the stock of debt held by households in 2014. Average debt increased modestly from 2010 to 2014, by a little more than two per cent per year.