Buoyed by property and super, Australians have become the second-richest people in the world, on paper at least.
Already a subscriber?The number of millionaires will grow by 21 per cent in the next four years as surging home values, superannuation balances, and gifts and inheritances push Australians up a global ranking to become the second-richest people in the world on paper.
Median wealth, considered a more accurate measure of wealth than the average because it is not so easily skewed by the few mega-wealthy, also grew at about 5 per cent, making Australian adults the second-wealthiest in the world, with a median wealth of $US261,805 .Luxembourg adults have the highest median wealth, at $US372,258 .Australia is home to 1.9 million US-dollar millionaires, with a collective $US5.4 trillion .
“The inheritocracy, the bank of mum and dad, it’s real. To be able to afford a house, young people are going to need help,” he said. It found that between 2000 and 2030, globally, those in the lowest wealth quintile have a 60 per cent chance of climbing at least one bracket, while those in the highest bracket also have a 52 per cent chance of falling out. This is perhaps understandable, notes UBS: by definition, if you’re in the highest bracket, the only way to move, is down.the average 55-64 year old Australian has a household net wealth of $1.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Largest problem’: Barcelona plans to ban all holiday apartments by 2028The boom in short-term rentals in Barcelona, Spain’s most visited city by foreign tourists, means some residents cannot afford an apartment after rents rose 68 per cent in the past 10 years.
Read more »
‘Largest problem’: Barcelona plans to ban all holiday apartments by 2028The boom in short-term rentals in Barcelona, Spain’s most visited city by foreign tourists, means some residents cannot afford an apartment after rents rose 68 per cent in the past 10 years.
Read more »
‘Largest problem’: Barcelona plans to ban all holiday apartments by 2028The boom in short-term rentals in Barcelona, Spain’s most visited city by foreign tourists, means some residents cannot afford an apartment after rents rose 68 per cent in the past 10 years.
Read more »
Barcelona plans to shut all holiday apartments by 2028 as mayor seeks to tackle housing crisisBarcelona announced on Friday that it will bar apartment rentals to tourists by 2028, an unexpectedly drastic move as it seeks to rein-in soaring housing costs and make the city liveable for residents.
Read more »
England fans buoyed by team’s advance to first final abroadFans from Westfalenstadion to Keir Starmer in Washington celebrate hard-won but worthy semi-final win over Netherlands
Read more »
Government hunts Brisbane gold with record Olympic and Paralympic sport funding boostThe federal government is set to announce a record Olympic and Paralympic sport funding package in an attempt to boost the medal haul in Brisbane, as well as Los Angeles 2028.
Read more »