Wealth $316,600 per person
A report produced by the Federal Treasury and the Australian Bureau of Statistics (ABS) shows Australian private sector wealth in the December quarter 2005 was $6.5trillion or $316,600 per person. Over the past five years, private sector wealth adjusted for inflation, increased at 12.5%pa which was the biggest gain for an equivalent period in the 45 year history of reporting.
These figures include business and household wealth. Next week the ABS will release a report on Household Wealth to June 2004. FinDem has estimated from models established as at 2000 by NATSEM, that based on house and share price movements alone, household wealth would have grown by about 9%pa to around $270,000 at the end of 2005. We have added a Miscellaneous Chart with estimated composition of Household Wealth. Property dominates the Household portfolio with a 59% allocation (53% own home and 6% Investment Property) and dwarf's super at 20%.
Posted Sunday, 23 April 2006
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