Levels of wealth continue to rise for Australians
One particular asset group leads the way when it comes to building wealth in Australia
One particular asset group leads the way when it comes to building wealth in Australia
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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