Australia Household: Net Worth data was reported at 16,884.900 AUD bn in Sep 2024. This records an increase from the previous number of 16,484.000 AUD bn for Jun 2024. Australia Household: Net Worth data is updated quarterly, averaging 5,137.900 AUD bn from Sep 1988 (Median) to Sep 2024, with 145 observations. The data reached an all-time high of 16,884.900 AUD bn in Sep 2024 and a record low of 1,204.100 AUD bn in Sep 1988. Australia Household: Net Worth data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.AB045: SNA08: SESCA08: Balance Sheet: Households.

In the 2018 financial year, the 90th percentile in Australia had a household net worth reaching about 2.93 million Australian dollars. By comparison the 10th percentile had a household net worth of 31,400 Australian dollars.

Australia Account: Income: Richest 60%: % Aged 15+ data was reported at 99.159 % in 2014. This records a decrease from the previous number of 99.729 % for 2011. Australia Account: Income: Richest 60%: % Aged 15+ data is updated yearly, averaging 99.444 % from Dec 2011 (Median) to 2014, with 2 observations. The data reached an all-time high of 99.729 % in 2011 and a record low of 99.159 % in 2014. Australia Account: Income: Richest 60%: % Aged 15+ data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.WDI: Banking Indicators. Denotes the percentage of respondents who report having an account (by themselves or together with someone else). For 2011, this can be an account at a bank or another type of financial institution, and for 2014 this can be a mobile account as well (see year-specific definitions for details) (income, richest 60%, % age 15+). [ts: data are available for multiple waves].; ; Demirguc-Kunt et al., 2015, Global Financial Inclusion Database, World Bank.; Weighted average;

In 2023, Switzerland led the ranking of countries with the highest average wealth per adult, with approximately 709,600 U.S. dollars per person. Luxembourg was ranked second with an average wealth of around 607,500 U.S. dollars per adult, followed by Hong Kong SAR. However, the figures do not show the actual distribution of wealth. The Gini index shows wealth disparities in countries worldwide. Does wealth guarantee a longer life? As the old adage goes “money can’t buy you happiness”, yet wealth and income are continuously correlated to the quality of life of individuals in different countries around the world. While greater levels of wealth may not guarantee a higher quality life, it certainly increases an individual’s chances of having a longer one. Although they do not show the whole picture, life expectancy at birth is higher in the more wealthier world regions. Does money bring happiness? A number of the world’s happiest nations also feature in the list of those countries for which average income was highest. Finland, however, which was the happiest country worldwide in 2022, is missing in the list of top twenty countries with the highest wealth per adult. As such, the explanation for this may be the fact that the larger proportion of the population has access to a high income relative to global levels. Measures of quality of life Criticism of the use of income or wealth as a proxy for quality of life led to the creation of the United Nations’ Human Development Index. Although income is included within the index, it also has other factors taken into account such as health and education. As such, the countries with the highest human development index can be correlated to those with the highest income levels. That said, none of the above measures seek to assess the physical and mental environmental impact of a high quality of life sourced through high incomes. The happy planet index demonstrates that the inclusion of experienced well-being and ecological footprint in place of income and other proxies for quality of life results in many of the world’s materially poorer nations being included in the happiest.

Australia Average Number of Persons in Household: One Family: Couple with Dependent Children: Age: 65 Years And Over data was reported at 0.000 Person in 2020. This stayed constant from the previous number of 0.000 Person for 2018. Australia Average Number of Persons in Household: One Family: Couple with Dependent Children: Age: 65 Years And Over data is updated yearly, averaging 0.000 Person from Jun 2006 to 2020, with 8 observations. The data reached an all-time high of 0.000 Person in 2020 and a record low of 0.000 Person in 2020. Australia Average Number of Persons in Household: One Family: Couple with Dependent Children: Age: 65 Years And Over data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.H029: Survey of Income and Housing: Average Number of Persons in Household: by Age.

Australia Average Number of Persons in Household: Non Family: Group Households: Age: 18 to 64 Years data was reported at 2.200 Person in 2020. This records a decrease from the previous number of 2.300 Person for 2018. Australia Average Number of Persons in Household: Non Family: Group Households: Age: 18 to 64 Years data is updated yearly, averaging 2.300 Person from Jun 2001 (Median) to 2020, with 11 observations. The data reached an all-time high of 2.400 Person in 2016 and a record low of 2.100 Person in 2006. Australia Average Number of Persons in Household: Non Family: Group Households: Age: 18 to 64 Years data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.H037: Survey of Income and Housing: Average Number of Persons in Household: by Age.

The most common poverty measures, including that used by the OECD, focus on income based approaches. One of the most common measures of income poverty is the proportion of households with income …Show full descriptionThe most common poverty measures, including that used by the OECD, focus on income based approaches. One of the most common measures of income poverty is the proportion of households with income less than half median equivalised disposable household income (which is set as the poverty line); this is a relative income poverty measure as poverty is measured by reference to the income of others rather than in some absolute sense. Australia has one of the highest household disposable incomes in the world, which means that an Australian relative income poverty line is set at a high level of income compared to most other countries. OECD statistics on Australian poverty 2015-16 (based on ABS Survey of Income and Housing data and applying a poverty line of 50% of median income) determined the Australian poverty rate was over 25% before taxes and transfers, but falls around 12% after taxes and transfers. Though measuring poverty through application of solely an income measure is not considered comprehensive for an Australian context, however, it does demonstrate that the Australian welfare system more than halves the number of Australians that would otherwise be considered as at risk of living in poverty under that measure. It is important to consider a range of indicators of persistent disadvantage to understand poverty and hardship and its multidimensional nature. Different indicators point to different dimensions of poverty. While transient poverty is a problem, the experience of persistent poverty is of deeper concern, particularly where families experience intergenerational disadvantage and long-term welfare reliance. HILDA data from the Melbourne Institute of Applied Economic and Social Research shows the Distribution of number of years in poverty 2001–2015. The figure focuses on the longer term experience of working age adults and shows that while people do fall into poverty, only a small proportion of people are persistently poor.

60 percent of Australians were in the wealth range between 100,000 and one million U.S. dollars in 2020. Just 9.4 percent of Australian adults had wealth of over one million U.S. dollars, which was slightly less than the share of people who had under 10,000 U.S. dollars in wealth.

Wealth distribution in the Asia-Pacific

In 2020, China had the highest number of millionaires, followed by Japan and Australia. The number of millionaires in Australia was forecasted to increase from 1.8 million to three million by 2025. According to a source, among the Asia-Pacific countries, Australia ranked second in the share of wealth per adult. The source had revealed the wealth per adult in Australia was more than 483 thousand U.S. dollars in 2020.

LGBTQ community of Australia

In 2020, a survey of working adults in Australia revealed that LGBTQ adults were employed in public services and the law enforcement across the country. On the one hand, more than 38 percent of LGBTQ individuals had a role as as a team member, above 12 percent of respondents answered that they were either team leader or supervisor.

Australia Average Number of Persons in Household: Non Family: Group Households: Age: Under 18 Years data was reported at 0.000 Person in 2020. This stayed constant from the previous number of 0.000 Person for 2018. Australia Average Number of Persons in Household: Non Family: Group Households: Age: Under 18 Years data is updated yearly, averaging 0.000 Person from Jun 2006 (Median) to 2020, with 8 observations. The data reached an all-time high of 0.000 Person in 2020 and a record low of 0.000 Person in 2020. Australia Average Number of Persons in Household: Non Family: Group Households: Age: Under 18 Years data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.H037: Survey of Income and Housing: Average Number of Persons in Household: by Age.

SA1 based data for Selected Medians and Averages, in General Community Profile (GCP), 2016 Census. The median or average was calculated in the following categories: a person’s age, a person’s income, a family’s income, total household income, mortgage repayment, rental payments, number of persons per bedroom and household size. The data is by SA1 2016 boundaries. Periodicity: 5-Yearly. For more information visit the data source: http://www.abs.gov.au/census.

SA2 based data for Selected Medians and Averages, in Place of Enumeration Profile (PEP), 2016 Census. The median or average was calculated in the following categories: a person’s age, a person’s income, a family’s income, total household income, mortgage repayment, rental payments, number of persons per bedroom and household size. The data is by SA2 2016 boundaries. Periodicity: 5-Yearly. For more information visit the data source: http://www.abs.gov.au/census.

The most common poverty measures, including that used by the OECD, focus on income based approaches. One of the most common measures of income poverty is the proportion of households with income less than half median equivalised disposable household income (which is set as the poverty line); this is a relative income poverty measure as poverty is measured by reference to the income of others rather than in some absolute sense. Australia has one of the highest household disposable incomes in the world, which means that an Australian relative income poverty line is set at a high level of income compared to most other countries.

OECD statistics on Australian poverty 2015-16 (based on ABS Survey of Income and Housing data and applying a poverty line of 50% of median income) determined the Australian poverty rate was over 25% before taxes and transfers, but falls around 12% after taxes and transfers. Though measuring poverty through application of solely an income measure is not considered comprehensive for an Australian context, however, it does demonstrate that the Australian welfare system more than halves the number of Australians that would otherwise be considered as at risk of living in poverty under that measure.
It is important to consider a range of indicators of persistent disadvantage to understand poverty and hardship and its multidimensional nature. Different indicators point to different dimensions of poverty. While transient poverty is a problem, the experience of persistent poverty is of deeper concern, particularly where families experience intergenerational disadvantage and long-term welfare reliance. HILDA data from the Melbourne Institute of Applied Economic and Social Research shows the Distribution of number of years in poverty 2001–2015. The figure focuses on the longer term experience of working age adults and shows that while people do fall into poverty, only a small proportion of people are persistently poor.

Australia Average Number of Persons in Household: One Family: Other data was reported at 3.000 Person in 2020. This stayed constant from the previous number of 3.000 Person for 2018. Australia Average Number of Persons in Household: One Family: Other data is updated yearly, averaging 3.000 Person from Jun 2001 (Median) to 2020, with 11 observations. The data reached an all-time high of 4.000 Person in 2001 and a record low of 2.900 Person in 2010. Australia Average Number of Persons in Household: One Family: Other data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.H037: Survey of Income and Housing: Average Number of Persons in Household: by Age.

As at February 2024, couples aged 25 to 34 years old in Sydney, Australia spent an average of around 37 percent of their household income on mortgage repayments for an entry-priced unit. In comparison, couples in the same age bracket in Perth were spending around 19 percent of their household income on mortgage repayments for a unit.

In June 2022, it was estimated that around 7.3 percent of Australians were aged between 25 and 29, and the same applied to people aged between 30 and 34. All in all, about 55 percent of Australia’s population was aged 35 years or older as of June 2022. At the same time, the age distribution of the country also shows that the share of children under 14 years old was still higher than that of people over 65 years old. A breakdown of Australia’s population growth Australia is the sixth-largest country in the world, yet with a population of around 26 million inhabitants, it is only sparsely populated. Since the 1970s, the population growth of Australia has remained fairly constant. While there was a slight rise in the Australian death rate in 2022, the birth rate of the country decreased after a slight rise in the previous year. The fact that the birth rate is almost double the size of its death rate gives the country one of the highest natural population growth rates of any high-income country.
National distribution of the population Australia’s population is expected to surpass 28 million people by 2028. The majority of its inhabitants live in the major cities. The most populated states are New South Wales, Victoria, and Queensland. Together, they account for over 75 percent of the population in Australia.

The most common poverty measures, including that used by the OECD, focus on income based approaches. One of the most common measures of income poverty is the proportion of households with income less than half median equivalised disposable household income (which is set as the poverty line); this is a relative income poverty measure as poverty is measured by reference to the income of others rather than in some absolute sense. Australia has one of the highest household disposable incomes in the world, which means that an Australian relative income poverty line is set at a high level of income compared to most other countries. OECD statistics on Australian poverty 2015-16 (based on ABS Survey of Income and Housing data and applying a poverty line of 50% of median income) determined the Australian poverty rate was over 25% before taxes and transfers, but falls around 12% after taxes and transfers. Though measuring poverty through application of solely an income measure is not considered comprehensive for an Australian context, however, it does demonstrate that the Australian welfare system more than halves the number of Australians that would otherwise be considered as at risk of living in poverty under that measure. It is important to consider a range of indicators of persistent disadvantage to understand poverty and hardship and its multidimensional nature. Different indicators point to different dimensions of poverty. While transient poverty is a problem, the experience of persistent poverty is of deeper concern, particularly where families experience intergenerational disadvantage and long-term welfare reliance. HILDA data from the Melbourne Institute of Applied Economic and Social Research shows the Distribution of number of years in poverty 2001–2015. The figure focuses on the longer term experience of working age adults and shows that while people do fall into poverty, only a small proportion of people are persistently poor.

In financial year 2020, over two million people in Australia had a disposable personal income of 2,000 Australian dollars or more per week. On the other end of the spectrum, around 400,000 people had 99 Australian dollars or less in disposable income on a weekly basis.

In a survey conducted in Australia in 2022, over half of respondents from Generations Y and Z were earning some sort of passive income. In contrast, around 65 percent of respondents from Generation X did not earn any passive income.

GCCSA based data for Selected Medians and Averages, in Place of Enumeration Profile (PEP), 2016 Census. The median or average was calculated in the following categories: a person’s age, a person’s income, a family’s income, total household income, mortgage repayment, rental payments, number of persons per bedroom and household size. The data is by GCCSA 2016 boundaries. Periodicity: 5-Yearly. For more information visit the data source: http://www.abs.gov.au/census.

Australia Average Number of Persons in Household: Age: 65 Years And Over data was reported at 0.400 Person in 2020. This stayed constant from the previous number of 0.400 Person for 2018. Australia Average Number of Persons in Household: Age: 65 Years And Over data is updated yearly, averaging 0.315 Person from Jun 1995 (Median) to 2020, with 16 observations. The data reached an all-time high of 0.400 Person in 2020 and a record low of 0.290 Person in 2003. Australia Average Number of Persons in Household: Age: 65 Years And Over data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.H037: Survey of Income and Housing: Average Number of Persons in Household: by Age.