Property boom drives record increase in household wealth

Advertisement

A few months back, the Credit Suisse Global Wealth Report declared Australian households the worlds richest thanks to their expensive property assets:

Global wealth

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:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.