According to data from the Australian Bureau of Statistics (ABS), in the 2017/18 fiscal year, the [average wealth] of Australian households exceeded the million Australian dollars mark for the first time.

过去十年,澳大利亚的财富增长了37%。澳大利亚统计局首席经济学家Bruce Hockman表示,2017/18财年,家庭平均财富为102万澳币。而2005/06财年的这一数据还不到749,000澳元。

Two reasons for the growth of family wealth

Real estate and pensions are the two major contributors to the growth of family wealth.


The chief economist of the Australian Bureau of Statistics Bruce Hockman said that as the employer’s mandatory pension system matures, the pension balance is closing the gap with housing.

He said: "In the past ten years, pension holdings have increased by 90%, while real estate has only grown by about 37%."


At the same time, the long-term growth of housing prices has further promoted the increase in average household wealth.

Hockman said: "Despite the recent decline in housing prices from the Bureau of Statistics, in the long run, overall Australian housing prices have continued to increase. Since 2005/06, overall Australian housing prices have increased by 37%. "

However, behind the average wealth breaking one million is an increase in uneven distribution. Among all Australian residents, more than half have a net worth of A$558,900 or less.

The rich are getting richer and the poor are standing still

Official statistics show that the rich are getting richer.


"In contrast, the middle 20% of households own only 11% of the total wealth of Australian residents, with an average of A$564,500 per household. Over the same period, the lowest 20% of households control less than 1% of the total wealth of Australian residents. , Recording an average of A$35,200."

In other words,最高20%的家庭平均净值是最低20%家庭平均净值的93倍,即320万澳币对比35,200澳币的差距。

In the past decade or so, wealthy families have reaped considerable benefits, while families living at the bottom have stayed where they are.



At the press conference, Hockman said: "The unequal distribution of wealth increased slightly in 2017/18. Moreover, the unequal distribution of household wealth is more serious than the unequal distribution of personal income."

The Gini coefficient is a core indicator used to measure the unequal distribution of wealth. Since 2015, the coefficient has risen significantly.

Slow overall revenue growth

It is worth mentioning that despite the increase in average household wealth, income growth has been slow in the past decade.


From the "median" point of view, the value is even lower, only 899 Australian dollars per week.

The Australian Bureau of Statistics report explains: “This is because Australia has a larger proportion of low- and middle-income households and a smaller proportion of high-income households."

Super-rich wealth increases by 20% annually


Hockman, chief analyst at the Australian Bureau of Statistics, said the survey covered the super-rich.

He said: "The report contains data on the super rich, but we will not release data separately for this level. Part of the reason is that the data is easy to use for individual identification. The credibility of the Australian Bureau of Statistics data depends largely on We protect and maintain the trust of respondents in us."

However, from a statistical point of view, this statistical sample is unlikely to be included in the "Australian Financial Review" as the richest 200 people.

The total net worth of this group is A$3418 billion, which has increased by 20% in the past year. Since the creation of the list 35 years ago, real wealth (excluding inflation) has increased 17 times.

The wealth of the middle class has shrunk

Some experts said that given the size of the Australian economy and the wealth of the middle and upper classes, the absence of the 200 super-rich has little impact on the final survey results of the widening gap between the rich and the poor.

However, many economists have expressed objections to this position.

As early as in an article published in May this year, political economist Dr. Christopher Sheil and Honorary Professor Frank Stilwell came to such a conclusion after using data from the Organisation for Economic Cooperation and Development (OECD) and the Australian Bureau of Statistics.That is, Australia's richest 10% group owns more than 50% of the country's wealth, which is a significant increase from the four years as of 2016.