Levels of wealth continue to rise for Australians
One particular asset group leads the way when it comes to building wealth in Australia
< 1 min
Australians are wealthier than they were last quarter – and it’s thanks to rising property values, new data from the ABS has shown.
Information released by the Australian Bureau of Statistics shows that household wealth rose for the third consecutive quarter, up 2.6 percent to June 2023. This is the equivalent of $379 billion and brings total household wealth up to $15.1 trillion.
ABS head of finance statistics, Dr Mish Tan, said there was a clear driver at play.
“Household wealth has grown alongside increasing house prices this year,” Dr Tan said. “Population growth has supported demand for housing while the supply of new and established dwellings to the market remained constrained.”
However, statistics also showed household budgets were under pressure with household deposit accounts contracting by $6 billion, the first quarterly decline since June quarter 2007.
From snow-dusted valleys to festival-filled autumns, Bhutan reveals itself as a rare destination where culture, nature and spirituality unfold year-round.
Odd Culture Group brings a new kind of after-dark energy to the CBD, where daiquiris, disco and design collide beneath the city streets.
Odd Culture Group brings a new kind of after-dark energy to the CBD, where daiquiris, disco and design collide beneath the city streets.
2 minSydney’s nightlife has long flirted with reinvention, but its latest arrival suggests something more deliberate is taking shape beneath the surface.
Razz Room, the new underground bar and disco from Odd Culture Group, has opened in the CBD, marking the group’s first step into the city centre.
Tucked below street level on York Street, the venue blends cocktail culture with a shifting, late-night rhythm that moves from after-work drinks to full dancefloor immersion.
The space itself is designed to evolve over the course of an evening. An upper bar offers a more intimate setting, suited to early drinks and conversation, while a sunken dancefloor anchors the venue’s later hours, with a rotating program of DJs and live performances.
“Razz Room will really change shape throughout a single evening,” says Odd Culture Group CEO Rebecca Lines.
“Earlier, it’s geared towards post-work drinks with a happy hour, substantial food offering, and music at a level where you can still talk.”
As the night progresses, that tone shifts.
“As the evening progresses at Razz Room, you can expect the music to get a little louder and the focus will shift to live performance with recurring residencies and DJs that flow from disco to house, funk, and jazz,” Rebecca says.
The concept draws heavily on New York’s underground club scene before disco became mainstream, referencing venues such as The Mudd Club and Paradise Garage. But the intention is not nostalgia.
“The space told us what it wanted to be,” Lines explains. “Disco started as a counter culture… Razz Room is no nostalgia project, it’s a reimagining of the next era of the discotheque.”
Design, too, plays its part in shaping the experience. The upper level is warm and textural, with timber finishes and burnt-orange tones, while the sunken floor shifts into a more theatrical mood, combining Art Deco references with a raw, industrial edge.
From citrus oils to warming spices, the classic G&T is being reimagined at home as a more thoughtful, seasonal ritual for modern entertaining.
From Italian vegetable-tanned leather to real-world training insight, Australian brand PK9 Gear is redefining what luxury means for discerning dog owners.
