๐ฃ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐ ๐ฎ๐ธ๐ถ๐ป๐ด ๐๐ผ๐๐๐ฒ๐ต๐ผ๐น๐ฑ๐ ๐ช๐ฒ๐ฎ๐น๐๐ต๐ถ๐ฒ๐ฟ
The average Australian was worth $571,000 at the end of the September quarter, according to the latest data from the Australian Bureau of Statistics.
That's a sizeable jump from the year before, when net wealth per person was $547,000. Much of that increase can be attributed to the rebound in property prices that began in early 2023.
We're still short of the record $576,000 figure from March 2022, when the last property boom was coming to an end.
Average net wealth is calculated by adding up all our household assets (such as properties), subtracting all our liabilities (such as home loans) and dividing that figure by the number of people in Australia.
Net wealth has doubled since 2012, tripled since 2003 and quadrupled since 2001.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
