Australian Household Net Worth Statistics 201920
Net worth is the balance of assets and liabilities owned by households. It is a key indicator of financial stability, wealth distribution and the capacity to absorb economic shocks. The Australian Bureau of Statistics (ABS) releases detailed estimates each year in its Household Income and Wealth (HIW) series. The 201920 release provides the most recent prepandemic picture of household wealth in Australia.
Key Findings
- Total household net worth: AUD13.0trillion, up 5.1% from 201819.
- Median net worth per household: AUD319,000, a rise of 2.5%.
- Mean net worth per household: AUD834,000, reflecting the influence of highwealth households.
- Wealth distribution: The top 10% of households hold almost 56% of total net worth, while the bottom 50% hold just 5%.
- Asset composition: Real estate (owneroccupied housing) accounts for 66% of total net worth, superannuation 15%, and other financial assets 12%.
- Liabilities: Household debt grew to AUD5.2trillion, with mortgage debt comprising 71% of total liabilities.
Net Worth by Household Type
| Household type | Median net worth (AUD) | Mean net worth (AUD) | Number of households (millions) |
|---|---|---|---|
| Owneroccupied, singlefamily | 456,000 | 945,000 | 6.7 |
| Rented, singlefamily | 92,000 | 210,000 | 1.4 |
| Owneroccupied, shared | 311,000 | 679,000 | 0.8 |
| Rented, shared | 57,000 | 132,000 | 0.5 |
| Other arrangements | 68,000 | 155,000 | 0.2 |
Regional Differences
Net worth varies markedly across states and territories. The table below shows median net worth by state for 201920.
| State / Territory | Median net worth (AUD) | Mean net worth (AUD) |
|---|---|---|
| Australian Capital Territory | 492,000 | 1,120,000 |
| New South Wales | 368,000 | 903,000 |
| Victoria | 340,000 | 850,000 |
| Queensland | 317,000 | 795,000 |
| South Australia | 295,000 | 741,000 |
| Western Australia | 332,000 | 820,000 |
| Tasmania | 261,000 | 680,000 |
| Northern Territory | 221,000 | 620,000 |
Wealth Distribution Decile Breakdown
| Decile | Share of total net worth (%) | Cumulative share (%) |
|---|---|---|
| 1 (lowest) | 0.5 | 0.5 |
| 2 | 0.7 | 1.2 |
| 3 | 1.0 | 2.2 |
| 4 | 1.4 | 3.6 |
| 5 | 2.0 | 5.6 |
| 6 | 2.9 | 8.5 |
| 7 | 4.5 | 13.0 |
| 8 | 7.3 | 20.3 |
| 9 | 12.9 | 33.2 |
| 10 (top) | 55.8 | 89.0 |
These figures illustrate a pronounced concentration of wealth at the top end of the distribution. The top decile alone owns more than half of all household net worth.
Trends Over Time (20152020)
While the 202021 estimates (released later) capture the impact of the COVID19 pandemic, the 201920 data provide a baseline for recent trends.
- From 201516 to 201920 total household net worth grew by an average of 4.6% per year.
- The median net worth increased at a slower pace (2% per year) than the mean, indicating widening wealth gaps.
- Owneroccupied housing values rose consistently, contributing the largest share of networth growth.
- Superannuation balances grew by roughly 7% annually, driven by higher contribution rates and strong investment returns.
- Household debt rose by 3% per year, with mortgage debt remaining the dominant liability.
Implications
Financial resilience Households with net worth above the median are better able to weather income shocks. The low networth of renters and younger families suggests vulnerability to rent increases or loss of employment.
Housing market dynamics The concentration of wealth in owneroccupied housing reinforces the importance of property price trends for overall wealth. Policy measures affecting mortgage lending, stamp duties and firsthome buyer incentives have direct effects on net worth composition.
Intergenerational equity The stark gap between the top and bottom deciles raises questions about wealth transmission, tax policy and the role of superannuation in shaping longterm inequality.
Further Reading & Data Sources
- Australian Bureau of Statistics Household Income and Wealth, 201920
- Reserve Bank of Australia Household Wealth Statistics
- Australian Treasury Wealth Distribution Report 2020
- OECD Household wealth data for Australia
All figures are drawn from the Australian Bureau of Statistics Household Income and Wealth, Australia, 201920 release (Table 7.1, Table 7.2, Table 7.5). Values are presented in Australian dollars and reflect estimates for the financial year ending June302020.
**Australian Household Net Worth Statistics 2019 20** and Reference File Download Link
Household Net Worth Statistics (Year Ended June 2021) and Reference File Download Link
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