• Real Finance

Household wealth of Australians

Updated: May 19

Over the last year or so you may have seen that the median wealth of Australian households has been on the rise. In fact, research has concluded that one in ten Australians are millionaires.

You're probably wondering where and how this wealth is distributed amongst the average Australian. If so, don’t go anywhere! We’re going to explore this within this article. Additionally, we'll aim to provide you with suggestions that can support you on your wealth creation journey.

There are various components that constitute wealth. In 2018, the ABS released the following data which demonstrates the distribution of wealth in Australia. As this information is nearly four years old it may be slightly skewed, however it acts as a rough guide to understanding where Australians store their wealth.

Asset Class

Percentage (%)

Owned home




Shares and other financial assets


Investments in other real estate


Other non-financial assets


There’s no doubt that Australia experienced a real estate boom in 2021. Furthermore, in our professional opinion, we anticipate that the percentage of 'investments in other real estate' and 'owned homes' could now be significantly higher.

In fact, Michael Read explains in the Australian Financial Review that in comparison to other countries, Australia displays a larger "preference for housing assets".

Much of the wealth produced within real estate has been particularly fuelled by the economic effects of the COVID-19 pandemic. Low interest rates, government support and readily available finance were desirable factors that enticed many Australian households to secure this type of asset throughout much of 2020 and 2021.

Additionally, the Nation’s rising house prices were desirable amongst investors and current home owners looking to establish an investment portfolio.

Household wealth distribution across age demographics

The data collation and information sharing platform, McCrindle identified the distribution of household wealth across various age demographics within Australia. People who are aged 55-64 and 65+ hold the greatest amount of household wealth, in the country.

In their report, they also concluded that the average household wealth for Australians is currently sitting just over the $1 million mark.

The figures listed below show the average distribution of household wealth across various age demographics within Australia. They also come from McCrindle.

Age Group

Wealth Value ($)

Percentage (%)
















How REIF can support you on your wealth creation journey

Are you looking at ways or assets to help increase your household wealth, REIF have a skilled team that can help. Our finance and property specialists are well equipped to support you in understanding your options and investing in assets that can support you for your financial future.

We're specialised in assisting people looking to invest or access finance that can allow you to expand your asset portfolio. Start a conversation with us today by clicking the button below. Alternatively, you can contact us on the details provided. Always happy to help!

Ph: 1300 130 932


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