Levels of wealth continue to rise for Australians
One particular asset group leads the way when it comes to building wealth in Australia
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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.
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A haven for hedge-fund titans and Hollywood grandees, Greenwich is one of the world’s most expensive residential enclaves, where eye-watering prices meet unapologetic grandeur.
A stellar field of performance cars was recognised at Robb Report’s annual event, with Citizen Kanebridge backing the experience alongside leading luxury partners.
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Aston Martin’s Vanquish has been crowned overall winner of Robb Report Australia & New Zealand’s 2025 Car of the Year, taking top honours at an exclusive event in Sydney.
Held at the Harbourside Residences Display Gallery by Mirvac, the evening brought together drivers, partners and industry figures for the long-awaited announcement of the 2025 Car of the Year.
Exclusive private member’s club Citizen Kanebridge was among the partners supporting the event, which has become a fixture on the luxury automotive calendar, showcasing the very best in performance, design and innovation across the global car market.
Across a tightly contested field, category winners reflected the breadth of today’s high-end automotive landscape, from traditional combustion engines to hybrid and fully electric performance models.
Among the standout winners, the Ferrari 12Cilindri Spider took out Best Combustion Supercar, while the Aston Martin Vanquish was named Best Super-GT before ultimately securing the overall title.
Other notable winners included the Mercedes-Benz G580 as Best Off-Roader, the Audi RS Q8 Performance for Best SUV Coupe, and the Aston Martin DBX 707 for Best Super-SUV.
Electrification continued to shape the upper end of the market, with the Chevrolet Corvette E-Ray named Best Hybrid Supercar and the Audi RS e-Tron GT Performance taking out Best Electric GT.
The Lamborghini Urus SE was recognised as Best Hybrid SUV and also placed third overall, while the Mercedes-AMG GT 63 S E Performance secured second place overall in the coupe category.
Guests were also given a first look at a short film capturing the spirit of the two-day Car of the Year program, produced by SONDR, alongside photography that will feature in a dedicated 40-page portfolio in the upcoming issue.
Guests were welcomed alongside a curated group of Car of the Year partners, including Jacob & Co. and La Prairie, with Peter Lehmann Wines and Glenfiddich ensuring the evening unfolded in suitably polished fashion.
The broader program was supported by partners including Citizen Kanebridge, Msquared Capital, Hardy Brothers, Bell Helicopters, Saddles and Spicers Retreats, reflecting the wider luxury ecosystem that underpins the event.
With full results set to be published in the next issue of Robb Report Australia & New Zealand, attention now turns to the next instalment of the program, with this year’s Car of the Year drive scheduled for September.
For those in the room, however, the message was already clear. In a field defined by innovation and performance, the Vanquish still knows how to stand apart.
With full results published in the next issue of Robb Report Australia & New Zealand, attention now turns to the next instalment of the program, with this year’s Car of the Year drive scheduled for September.
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Three-Michelin-starred chef Massimiliano Alajmo will host an intimate Mediterranean sailing aboard Crystal Serenity, redefining fine dining at sea.
