Research by the Productivity Commission into the makeup of Australians’ wealth has revealed whose home is the highest proportion of their net worth.
The top 10 per cent of Australians had about a third of their wealth tied up in the family home.The middle deciles of household wealth had the largest proportion of their wealth built up in the family home.Australians worth less than $1 million are more likely to have most of their wealth tied up in their family homes than the top 10 per cent, new research shows.
The top decile of households had about a third of theirwealth tied up in their family home. They were within a percentage point of the third decile of households , which was at 31.26 per cent. Australians with more than $3 million in wealth only have about a third of that wealth made up by their family home.“To make the real bucks you have to make your own business and a lot of your wealth will be tied up in that business … If you have more wealth, a good financial adviser will tell you to diversify as well.”
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