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Household Income and Wealth, Australia

Key information from the Survey of Income and Housing 2019–20 including distribution of income and wealth by various household characteristics

Reference period
2019-20 financial year

Key statistics

In 2019–20

  • Average equivalised disposable household income was $1,124 per week. 
  • Average net worth for all Australian households in 2019–20 was $1.04 million. 
  • Total average liabilities for households saw a statistically significant increase from $189,500 in 2017–18 to $203,800 in 2019–20.
  • Three in four (75%) households had debt in 2019–20. 
Table 1a – Household income economic well-being indicators(a)(b), Australia, 2009–10 to 2019–20YearChange
Economic Indicators – Income   2009–10 to 2019–202017–18 to 2019–20
 2009–102017–182019–20Difference%Difference%
Gini coefficient for equivalised disposable household income(c)(d)

0.329

0.328

0.324

-0.005

-1.5

-0.004

-1.2

Gini coefficient for gross household income(d)

0.428

0.439

0.436

0.008

1.9

-0.003

-0.7

Mean weekly equivalised disposable household income(c)

$1,034

$1,094

$1,124

$90(e)

8.7

$30

2.7

Mean weekly gross household income

$2,058

$2,310

$2,329

$271(e)

13.2

$19

0.8

Median weekly equivalised disposable household income(c)

$872

$926

$959

$87(e)

10.0

$33(e)

3.6

Median weekly gross household income

$1,610

$1,753

$1,786

$176(e)

10.9

$33

1.9

  1. In 2019–20 dollars, adjusted using changes in the Consumer Price Index 
  2. Due to the change in collection methodology, estimates may not be directly comparable to previous cycles. For more information please see the Household Income and Wealth, Australia - Methodology, 2019–20 financial year
  3. Household net worth is the value of all the assets owned by a household less the value of all its liabilities
  4. The Gini coefficient is the internationally accepted summary measure of inequality. Gini coefficient values range between 0 and 1. Values closer to 0 represent higher equality and values closer to 1 represent higher inequality
  5. The difference between periods is statistically significant
Table 1b – Household wealth economic well-being indicators(a)(b), Australia, 2009–10 to 2019–20YearChange
Economic Indicators – Wealth   2009–10 to 2019–202017–18 to 2019–20
 2009–102017–182019–20Difference%Difference%
Gini coefficient for household net worth(c)(d)

0.602

0.621

0.611

0.009

1.5

-0.010

-1.6

Mean household net worth(c)

$878,200

$1,053,200

$1,042,000

$163,800(e)

18.7

-$11,200

-1.1

Median household net worth(c)

$519,300

$576,000

$579,200

$59,900(e)

11.5

$3,200

0.6

Mean total financial assets(f)

$312,800

$440,600

$445,000

$132,200(e)

42.3

$4,400

1.0

Mean total non-financial assets(g)

$711,700

$802,300

$798,000

$86,300(e)

12.1

-$4,300

-0.5

Mean total liabilities

$146,200

$189,500

$203,800

$57,600(e)

39.4

$14,300(e)

7.5

Proportions of households with debt

71.9

72.8

74.6

2.7pts(e)

..

1.8pts(e)

..

Proportions of households with debt 3 or more times income

24.2

28.4

30.3

6.1pts(e)

..

1.9pts(e)

..

 

.. not applicable

  1. In 2019–20 dollars, adjusted using changes in the Consumer Price Index 
  2. Due to the change in collection methodology, estimates may not be directly comparable to previous cycles. For more information please see the Household Income and Wealth, Australia - Methodology, 2019–20 financial year
  3. Household net worth is the value of all the assets owned by a household less the value of all its liabilities
  4. The Gini coefficient is the internationally accepted summary measure of inequality. Gini coefficient values range between 0 and 1. Values closer to 0 represent higher equality and values closer to 1 represent higher inequality
  5. The difference between periods is statistically significant
  6. Includes, for example, accounts held with financial institutions (including offset accounts), ownership of an incorporated business, shares, debentures and bonds, trusts, superannuation funds, and loans to other persons
  7. Includes, for example, residential and non-residential property, household contents and vehicles

In 2019–20, compared to 2017–18, average equivalised disposable household income and average net worth for Australian households, saw no statistically different changes.  In contrast, average total liabilities for households and the proportion of households servicing total debt three or more times their annualised disposable income had statistically different increases.

Over the decade to 2019–20,  there were statistically different changes in equivalised disposable household income, average net worth, average total liabilities and the proportion of households servicing total debt three or more times their annualised disposable income.  

  • In 2019–20, the average equivalised disposable household income was $1,124 per week. This was not statistically significantly different from the average in 2017–18 ($1,094 per week), but was statistically significantly different compared to a decade before ($1,034 per week in 2009–10). 
  • The average net worth for all Australian households in 2019–20 was $1.04 million. This was not statistically significantly different from $1.05 million in 2017–18, but an 19% increase compared with 2009–10 ($878,200) was statistically significant.
  • The average total liabilities for households saw a statistically significant increase from $189,500 in 2017–18 to $203,800 in 2019–20, and a 39% increase compared to a decade before ($146,200 in 2009–10).
  • Three in four (75%) households had debt in 2019–20. Of these households, 30% were servicing a total debt three or more times their annualised disposable income, which was a statistically significant increase from 2009-10 (24%) and 2017-18 (28%).
  1. Survey of Income and Housing data was collected in labelled years
  2. In 2019–20 dollars, adjusted using changes in the Consumer Price Index
  3. Due to the change in collection methodology, estimates may not be directly comparable to previous cycles. For more information please see the Household Income and Wealth, Australia - Methodology, 2019–20 financial year
  4. In 2007–08 there was a change in income standards, see the Household Income and Wealth, Australia - Methodology, 2019–20 financial year for more information 
  5. Equivalised disposable household income estimates are adjusted by equivalence factors to standardise them for variations in household size and composition, while taking into account the economies of scale that arise from the sharing of dwellings

Source(s): ABS Survey of Income and Housing, various years

  1. In 2019–20 dollars, adjusted using changes in the Consumer Price Index
  2. Due to the change in collection methodology, estimates may not be directly comparable to previous cycles. For more information please see the Household Income and Wealth, Australia - Methodology, 2019–20 financial year
  3. Comprehensive wealth data was not collected in 2007–08

Source (s): ABS Survey of Income and Housing, various years

Introduction

The 2019–20 Survey of Income and Housing (SIH) collected information about income, wealth and housing from residents in private dwellings in Australia, excluding very remote areas.

The SIH provides:

  • Estimates of the distribution of income and wealth across the population.
  • Detailed information about housing and tenure.

The SIH also collects various characteristics of households and residents giving these key indicators a context to help understand the living standards and economic well-being of people in Australia. These include:

  • employment
  • industry 
  • occupation
  • family make-up
  • disability status
  • education; and 
  • child care use.

The Excel data cubes (available from the Data downloads section) contain the key indicators for various subpopulations and by a range of household and person characteristics, and by state and territory.

About the Survey of Income and Housing

The SIH was conducted annually from 1994–95 to 1997–98, and then in 1999–2000, 2000–01 and 2002–03. From 2003–04 SIH has been conducted every two years and integrated with the Household Expenditure Survey (HES) every six years.

  • SIH/HES: 2003–04, 2009–10, 2015–16.
  • SIH only: 2005–06, 2007–08, 2011–12, 2013–14, 2017–18, 2019–20.

The 2019–20 SIH collected information from a sample of 15,011 households over the period July 2019 to June 2020. For the first time in 2019, SIH respondents could complete their survey online rather than having an interviewer conduct a face-to-face interview. Of the 15,011 households completing SIH, almost half (47%) responded online. The online option enabled respondents to complete their survey while Australia was affected by both bushfires and COVID-19.

The introduction of online data collection means estimates may not be directly comparable to previous SIH estimates. For more information please see the Household Income and Wealth, Australia - Methodology, 2019–20 financial year.

Key concepts

Economic well-being is largely determined by a person's command over economic resources. Income and wealth are the economic resources that households use to support their consumption of goods and services. This publication provides indicators of the level and distribution of household income and household wealth.

The definitions used to measure the economic well-being of people can have a significant impact on the results. The Australian Bureau of Statistics (ABS) follows international best practice and standards for producing statistics relating to household economic resources.

This section provides definitions for the key concepts in this release. Further information on these concepts is provided in the Glossary section of the Methodology page, as well as the User Guide.

Income

Household income consists of all current receipts, whether monetary or in kind, that are received by the household or by individual members of the household, and which are available for, or intended to support, current consumption.

Income includes receipts from:

  • employee income (whether from an employer or own incorporated enterprise), including wages and salaries, salary sacrificed income, non-cash benefits, bonuses and termination payments
  • government pensions and allowances (includes pensions and allowances from Commonwealth and State and Territory governments as well as pensions from overseas)
  • profit/loss from own unincorporated business (including partnerships)
  • net investment income (interest earned, rent, dividends, royalties)
  • private transfers (e.g. superannuation, workers' compensation, income from annuities, child support, and financial support received from family members not living in the same household)

Gross income is the sum of the income from all these sources before income tax, the Medicare levy and the Medicare levy surcharge are deducted. Disposable income is the net income after these deductions.

Some limits have been placed on superannuation and other lump sum payments for inclusion in income, where the amounts received exceeds what is likely to be used to support current consumption (e.g. termination and workers’ compensation lump sum payments).

While income is usually received by individuals, it is assumed to be shared between partners in a couple relationship and with dependent children. To a lesser degree, there may be sharing with other members of the household. Even when there is no transfer of income between members of a household, or provision of free or cheap accommodation, household members are still likely to benefit from the economies of scale that arise from the sharing of dwellings. The income measures shown in this publication therefore relate to household income, rather than personal income. 

Wealth (net worth)

Household wealth (or net worth) is the value of all the assets owned by a household less the value of all its liabilities. 

Assets include:

  • non-financial assets, such as dwellings and their contents, land, and vehicles
  • own incorporated and unincorporated businesses
  • other financial assets such as bank accounts, shares, superannuation accounts, and the outstanding value of loans made to other households or businesses

 Liabilities are primarily the value of loans outstanding including:

  • mortgages
  • investment loans
  • credit card debt
  • borrowings from other households
  • other personal and study loans

Equivalisation

As household size increases, consumption needs also increase but there are economies of scale. An equivalence scale is used to adjust household incomes to take account of the economies that flow from sharing resources and enable more meaningful comparisons between different types of households.

Equivalising factors are calculated based on the size and composition of the household, recognising that children typically have fewer needs than adults. The ABS uses the OECD-modified equivalence scale which assigns a value of 1 to the household head, 0.5 to each additional person 15 years or older and 0.3 to each child under 15 years.

For a lone person household, equivalised income is equal to actual income. For households comprising more than one person, it is the estimated income that a lone person household would need to enjoy the same standard of living as the household in question.

Table 1 shows that a couple household with one child would need $1,800 weekly disposable income to have the same equivalised disposable household income as a lone person household with a disposable income of $1,000.

Household compositionEquivalising factor (x)Disposable income (y)Equivalised disposable income (y/x)
 no.$$
Lone person

1.0

1,000

1,000

Couple only

(1 + 0.5) = 1.5

1,500

1,000

Couple with one child under 15 years

(1 + 0.5 + 0.3) = 1.8

1,800

1,000

Group household with three adults

(1 + 0.5 + 0.5) = 2.0

2,000

1,000

Equivalence scales are mainly used for household income, but can also be used for household wealth.

Household income and wealth

For most Australians, income is the most important resource they have to meet their living costs. Reserves of wealth can be drawn upon to maintain living standards in periods of reduced income or substantial unexpected expenses. Considering income and wealth together helps to better understand the economic wellbeing or vulnerability of households.

Levels of household income and wealth

In 2019–20, compared to 2017–18, there was no statistically significant change in real (inflation adjusted), mean equivalised disposable household income (EDHI). In 2019–20, real EDHI was $1,124 per week, compared to $1,094 per week in 2017–18.

As shown in Graph 1, real EDHI increased from 2000–01 to 2007–08, with a small decline following the Global Financial Crisis (GFC) in 2008. Since then, real EDHI recovered but experienced slower growth from 2015–16.

  1. Survey of Income and Housing data was collected in labelled years
  2. In 2019–20 dollars, adjusted using changes in the Consumer Price Index
  3. In 2007–08 there was a change in income standards, see Methodology page for more information 

Source: ABS Survey of Income and Housing, various years

In 2019–20, the main sources of household income were:

  • employee income (62% of households), similar to 2017–18 (61%).
  • government pensions and allowances (22% of households), the same as 2017–18.

In 2019–20, compared to 2017–18, real net wealth, the value of a household’s assets minus the value of its liabilities (debts) inflation adjusted, saw no statistically different change, In 2019–20, average household real net wealth was $1.04 million. This was $11,200 lower (- 1%) than in 2017–18. In 2019–20, the mean value of household assets was $1.25 million, while the mean level of household debt was $203,800.

  1. In 2019–20 dollars, adjusted using changes in the Consumer Price Index
  2. Comprehensive wealth data was not collected in the 2007–08 SIH

Source: ABS Survey of Income and Housing, various years

In 2019–20 the largest household assets were from owner occupied dwellings, 40% of total household assets (a decrease from 42% in 2017–18). The second largest household assets were from superannuation, at 18% which was consistent with 2017–18. 

Graph 3 shows the average value of assets per household. Here you can see that the average value of owner occupied dwellings in 2019-20 was an estimated $502,500 per household, and superannuation funds was an estimated $229,900 per household.  

In 2019–20, 15% of household assets were from other residential and non-residential property e.g. for rent and holiday homes. The average value of other property was $191,100 per household. Just under one in four households (23%) owned property other than the dwelling in which they lived (compared to 22% in 2017–18).

  1. Includes stand alone houses, semi-detached and units
  2. Includes contents of dwelling and vehicles
  3.  Includes accounts held in financial institutions, offset accounts, shares, public unit trusts, private trusts, own business (net of liabilities)

Source: ABS Survey of Income and Housing, various years

In 2019–20, average household debt was statistically different compared to 2017–18. In value terms, it was $14,300 higher (7.5%) than in 2017–18, with an estimated average debt of $203,800 per household. The average value of household liabilities is shown in Graph 4. The average amount owing on home loans was $114,700, while the amount owing on loans outstanding for other property averaged $68,100. The average household debt for other liabilities was $20,700. 

  1. Includes study loans, credit cards, loans for vehicle purchases, investment loans, and loans for other purposes.

Source(s): ABS Survey of Income and Housing, 2019–20

Distribution of household income and wealth

To analyse the way that income and wealth are distributed across households in Australia, households can be ranked from lowest to highest income or wealth and then divided into five equal groups, with 20% of the population in each group (quintiles).

As shown in Graph 1, after taking account of the number and age of people in the household, households in the highest income quintile received 40% of total income in 2019–20 (as they did in 2017–18). By comparison, households in the lowest income quintile received 7.4% of total income (which was 7.5% in 2017–18, and statistically equivalent). The overall pattern remained relatively stable over the past two decades.

Analysis of the distribution of wealth (see Graph 1) shows that the highest wealth quintile owned 63% of total household wealth in 2019–20 (as they did in 2017–18). By comparison, the lowest wealth quintile owned less than 1% of all household wealth (0.7% in both 2017–18 and 2019–20). This indicates that the distribution of wealth is less equal than the distribution of income.

  1. Equivalised disposable household income 

Source: ABS Survey of Income and Housing, 2019–20

Mean equivalised disposable household income in Australia in 2019–20 was $1,124 per week. The median was lower, however, at $959 per week. This is due to the larger proportion of households with middle or low income and the small proportion of very high income households, as shown in Graph 2.

  1. Equivalised Disposable Household Income, weekly
  2. In 2019–20 dollars, adjusted using changes in the Consumer Price Index 

Annotation: Persons with an income between $50 and $2,800 are shown in $50 ranges on the graph
Source: Survey of Income and Housing, 2017–18, 2019–20

As shown in Graph 3, there is greater inequality in the distribution of wealth than income. The lowest 20% of households, in terms of net worth, had a mean net worth of $35,100. In comparison, the mean net worth of the wealthiest 20% of households was $3.27 million, or more than 92 times that of the lowest 20% of households. The mean net worth of all households in Australia in 2019–20 was $1.04 million while the median was $579,200. 

  1.  In 2019–20 dollars, adjusted using changes in the Consumer Price Index

Annotation: Households with net worth between $-100,000 and $3,000,000 are shown in $100,000 increments
Sources: ABS Survey of Income and Housing, 2017–18, 2019–20

There are many summary indicators that can be used to help understand the distribution of income and wealth across the population. The ABS uses the Gini coefficient as an internationally comparable indicator. The Gini coefficient lies between 0 and 1. If everyone in the population had the same income or wealth, the Gini coefficient would be zero. Gini coefficient values that are closer to 1 represent greater inequality. Compared to other summary indicators, the Gini coefficient is not overly sensitive to low or negative incomes.
In 2019–20, the Gini coefficient for gross household income was 0.436. After taking into account household composition and income tax, the Gini coefficient for EDHI was 0.324.

  1. Survey of Income and Housing data was collected in labelled years
  2. In 2007–08 there was a change in income standards, see Methodology for more information
  3. Equivalised disposable household income

Source: ABS Survey of Income and Housing, 2019–20

The Gini coefficient for wealth is typically higher than for income, reflecting greater inequality in the distribution of wealth. The Gini coefficient for wealth in 2019–20 was 0.611

  1. Comprehensive wealth data was not collected in 2007–08

Source: ABS Survey of Income and Housing, 2019–20

Low, middle and high income and wealth households

Households with middle and high incomes tend to have a corresponding level of economic well-being and resources. Low income households, however, do not always have a lower level of economic well-being, because low income households may have stores of wealth which help to support their living standards.

In this section, the characteristics of households with different income and wealth levels are compared.

To compare different income levels:

  • High income households refers to the 20% of households in the highest equivalised disposable household income quintile.
  • Middle income households refers to the 20% of households in the third equivalised disposable household income quintile.
  • Low income households refers to the 18% of households in the lowest equivalised disposable household income quintile, adjusted to exclude the first and second percentiles.

In SIH 2013–14, a low income definition was introduced. The objective was to better capture households with low economic resources, by excluding those with nil or negative income, or income significantly below government pension rates. Such households often are either experiencing a temporary economic setback or have stores of wealth to support their living costs. For more information see the feature article in Household Income and Wealth, Australia, 2013–14.

Equivalised disposable household income (EDHI) estimates are adjusted by equivalence factors to standardise them for variations in household size and composition, while taking into account the economies of scale that arise from the sharing of dwellings. When discussing income in this section, we are referring to EDHI.

To compare different wealth levels:

  • High wealth households refers to the 20% of households in the highest net worth quintile.
  • Middle wealth households refers to the 20% of households in the third net worth quintile.
  • Low wealth households refers to the 20% of households in the lowest net worth quintile.

For more information see the Survey of Income and Housing, User Guide, Australia, 2019–20

Characteristics of low, middle and high income households

Graph 1 shows in 2019–20, just under a third (32%) of low income households also had low wealth (i.e. they were in the lowest net wealth quintile), while 11% of low income households had high wealth. This pattern is reversed for high income households. Where 40% of high income households also had high wealth whereas 7% of high income households had low wealth. 

  1. Based on equivalised disposable household income
  2. Based on net worth of the household
  3. Excludes the first and second percentiles

Source: ABS Survey of Income and Housing, 2019–20

Low income households are most likely to rely on government pensions and allowances as their main source of income, whereas employee income is the main income source for middle and high income households, as shown in Graph 2.

  1. Based on equivalised disposable household income
  2. Excludes the first and second percentiles
  3. The proportion of high income households with government pensions and allowances has a high margin of error and should be used with caution
  4. Includes zero or negative income, own un-incorporated business income and other income

Source: ABS Survey of Income and Housing, 2019–20

Some household types are more common in the low income group, as shown in Graph 3. Lone person households are more likely to be in the low income group, while couple only households are more likely to be in the high income group.

  1. Based on equivalised disposable household income
  2. Excludes the first and second percentiles

Source: ABS Survey of Income and Housing, 2019–20

For the analysis below a retiree household is defined as a household where the reference person in the household was 65 years or older and not in the labour force.

As can be seen in Graph 4 below, high income retiree households were more likely (50%) to draw their income from superannuation income than any other income source. For middle income retiree households, superannuation income was also the most common source of household income (47%). Low income retiree households were more likely to draw their income from government pensions and allowances (89%).

  1. Households where reference person was 65 years or older and they were not in the labour force
  2. Based on equivalised disposable household income
  3. Excludes the first and second percentiles
  4. The proportion of high income households with Government pensions and allowances income has a high margin of error and should be used with caution

Source: ABS Survey of Income and Housing, 2019–20

Changes in income over time

Change in the distribution of income and wealth over time are an area of interest for social and economic policy analysts and researchers. Distribution analysis can indicate whether the material living standards of the community are improving evenly across the population.

In the 20 years between 2000–01 and 2019–20, the mean income (in 2019-20 dollars) of:

  • Low income households increased by $155 per week to reach $456.
  • Middle income households increased by $333 per week to reach $966. 
  • High income households increased by $852 per week to reach $2,234.
  1. In 2019-20 dollars, adjusted using changes in the Consumer Price Index 
  2. Equivalised disposable household income 
  3. Survey of Income and Housing data was collected in labelled years 
  4. In 2007-08 there was a change in income standards, see Methodology for more 

Source: ABS Survey of Income and Housing, various years

All income groups have experienced a real increase in their income since the mid-1990s. Some of the growth in middle and high income groups was due to a broadening of the Survey of Income and Housing (SIH) income measure from 2003–04, with further improvements in 2007–08. However, there were also real increases in average incomes during this period.

Characteristics of low, middle and high wealth households

In 2019–20, over a third (36%) of low wealth households (net worth less than $113,400) also had low household income, while 7% had high household income (see graph 1). For the high wealth households (net worth exceeding $1.45 million), 10% had low household income. However this group is unlikely to be at risk of experiencing economic hardship as they can draw on their wealth. 

  1. Based on net worth of the household
  2. Based on equivalised disposable household income
  3. Excludes the first and second percentiles

Source: ABS Survey of Income and Housing, 2019–20

The main assets for low wealth households in 2019–20 were:

  • Other non-financial assets (including dwelling contents and vehicles) (30%).
  • Superannuation (24%).
  • Property (owner occupied dwellings and other property) (21%).

The main asset for middle and high wealth households was property, but in contrast to low wealth households, both these groups have property ownership rates over 92%. For middle and high wealth households, owner occupied dwellings contributed 55% and 34% respectively to their wealth, as can be seen in Graph 2.

  1. Based on net worth of the household
  2. Includes contents of dwelling and vehicles
  3. Includes accounts held in financial institutions, offset accounts, shares, public unit trusts, private trusts and own business (net of liabilities)

Source: ABS Survey of Income and Housing, 2019–20

Almost half (48%) of high wealth households have property loans, with loans for owner occupied dwellings and other properties accounting for 90% of the total value of liabilities for high wealth households.  

Just over half (54%) of middle wealth households had property loans, which made up 94% of the total value of liabilities for this group. Low wealth households were less likely to own property, with 9% of this group having property loans.

Additionally, 26% of low wealth households have debt outstanding on study loans which accounts for 18% of total liabilities for all low wealth households. This drops significantly to account for less than 2% of total liabilities owed by both middle and high wealth households due to the much higher value of other liabilities for these groups. Around 16% of middle wealth households and 18% of high wealth households have study loans.

  1. Based on net worth of the household 
  2. Includes principal outstanding on loans for vehicle purchases (excludes business and investment loans), principal outstanding on investment loans (excludes business and rental property loans), and principal outstanding on loans for other purposes (excludes business and investment loans)
  3. The proportion of low wealth households with other property loans has a high margin of error and should be used with caution

Source: ABS Survey of Income and Housing, 2019–20

In the following analysis, a retiree household is defined as a household where the reference person in the household was 65 years or older and not in the labour force.

High wealth retiree households are more likely (46%) to draw their household income from superannuation than any other income source. For low and middle wealth retiree households the main source of income was from government pensions and allowances (95% and 81% respectively). 

  1. Households where reference person was 65 years or older and they were not in the labour force
  2. Based on the net worth of the household
  3. The proportion of low wealth households with Employee income has a high margin of error and should be used with caution

Source(s): ABS Survey of Income and Housing, 2019–20

Changes in wealth over time

Key changes in wealth in the decade leading up to 2019–20 include:

  • Middle wealth households had an average net worth of $588,400 in 2019–20 compared to $521,100 in 2009–10.
  • High wealth households increased in real terms from an average net worth of $2.7 million in 2009–10 to $3.3 million in 2019–20.
  • Low wealth households experienced a decrease in net worth over this time period with the average net worth of $35,100 in 2019–20 compared with $38,800 in 2009–10.
  1.  In 2019–20 dollars, adjusted using changes in the Consumer Price Index

Source: ABS Survey of Income and Housing, 2019–20
 

One factor driving the increase in net wealth of high income households is the value of property (owner occupied and other property). For high wealth households, average total property value increased by $683,000 between 2003–04 and 2019–20 from $1.2 million to $1.88 million. For middle wealth households average property values increased by $142,100 (from $373,600 to $515,700). Low wealth households that owned property had much lower growth of $24,200 growing to $32,300 over the last sixteen years (see graph 2).

  1. In 2019–20 dollars, adjusted using changes in the Consumer Price Index
  2. Comprehensive wealth data was not collected in 2007–08

Source: ABS Survey of Income and Housing, 2019–20
 

Between 2009–10 and 2019–20 average liabilities have increased in real terms for different wealth groups (see graph 3):

  • Low wealth households increased from $28,900 to $54,700.
  • Middle wealth households increased from $160,500 to $213,100.
  • High wealth households increased from $214,400 to $341,300.
  1. In 2019–20 dollars, adjusted using changes in the Consumer Price Index

Source: ABS Survey of Income and Housing, 2019–20

Data downloads

Data files

Fact sheets

Fact sheets for Household Income and Wealth, Australia 2019–20 will be available on 25 May 2022.

Previous catalogue number 

This release previously used catalogue number 6523.0

Post-release changes

28 April 2022: Transposition errors fixed in Key statistics Table 1a and Table 1b. Removal of duplicate sentences in Key concepts. Transposition errors fixed in graphs in the household income and wealth chapter. Transposition errors fixed in graphs in the low, middle and high income and wealth households chapter. Updated the view to 3 decimal places for gini coefficient graphs. Updated links to ABS website within data cubes.