Property boom drives record increase in household wealth
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A few months back, the Credit Suisse Global Wealth Report declared Australian households the worlds richest thanks to their expensive property assets:
Aussies top global wealth rankings.
Yesterday, the ABS has released its Finance and Wealth statistics for the June quarter, which revealed a record increase in household wealth on the back of the property boom:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.