21 Apr 2022
Update- Australian Household Wealth: AU$14,000,000,000,000 (that is AU$14 trillion)
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
Australian households have amassed AU$14 trillion in wealth which is 25% higher than pre COVID-19 Pandemic levels (see chart above).
Most of the wealth is made up of residential property with the primary residence being the foundation over the past 3 decades and likely to continue while the taxation benefits make it so advantageous.
Further research has segmented Australians into four distinct wealth groups-
- Emerging Affluent
- Established Affluent
- Emerging Mass Market
- Established Mass Market
This type of profiling is always interesting however the challenge with using averages is that you almost always find yourself meeting the criteria for more than profile.
Click for charts.
Just remember, if you have family, friends and or colleagues that need financial advice please ask then to contact us and we will know how to best help them.
At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me or to call me on +61 2 9267 2322.