Shares of national wealth by wealth group
This graph shows how wealth is divided up among households. This probably underestimates of the true extent of wealth inequality. The wealthiest 1%, who own a disproportionate share of all wealth, are a small number of people and so are underrepresented in household surveys. It is also likely that many under-report their wealth. See the pie chart showing shares of income by income group. 2017-18: The wealthiest 20% holds 64% of all wealth, followed by 20% for the next wealthiest group. The remaining 60% of households have just 17% of wealth between them. 2015-16: The highest 20% of household wealth groups holds 62% of all wealth. The middle 20% wealth group holds 12%, and the lowest 20% wealth group holds less than 1%. Wealth is highly concentrated at the very top. The highest 10% wealth group owns 45% of all wealth while the highest 5% owns 32% and the very highest 1% holds 15%. So the share of the highest 1% (15%) is greater than the middle 20% (12%). In contrast, the combined…
Profile of wealth holdings of wealth groups
This graph shows the components of wealth for each wealth group. The profile of assets held changes as we move up the household wealth scale. 2017-18: The holdings of the lowest 20% wealth group are mainly in 'other non-financial assets' such as cars (48% of heir wealth holdings) and superannuation (38%). Few own their homes. Moving up, the proportion of wealth held in owner-occupied housing rises (from 29% for the second-lowest wealth group to 51% for the second-highest). The proportion held in superannuation declines from 33% to 21%. In the highest wealth group, relatively less of the wealth is in the main home (34%) than those in the middle, and more of it in shares and other financial investment (26%) and investment property (15%). 2015-16: Most of the wealth of the lowest 20% wealth group is in low-value assets such as cars and home contents (49%) and superannuation (40%). The average net value of owner-occupied housing held by this group is just $2,000, which strongly suggests…
Wealth distribution among income groups
Wealth is more evenly distributed across income groups than across wealth groups. The highest 20% of households by income hold 42% of household wealth, compared with 15% for the middle 20% and 11% for the lowest 20%. The main reason for the more even distribution of wealth among household income groups is the high home ownership rate among older people, who tend to have lower incomes. This is likely that this will change in future as a declining share of older people own their main home The highest 20% income group holds 30% of all wealth in main residences, compared with 17% for the middle 20% income group; and 16% for the lowest 20% income group. Other forms of wealth are much less evenly distributed across household income groups. The highest 20% income group owns 60% of all shares and other financial assets, 53% of investment real estate, and 46% of superannuation wealth.
Value and profile of household wealth for each income group
This graph shows the distribution of wealth across income groups. It is more evenly distributed than across wealth groups, due largely to high levels of home ownership among retirees. 2017-18 The wealth of the highest 20% by income is valued at $2,148,000, almost three times as much as the middle 20% and four times as much as the lowest 20%. The average value of wealth in owner-occupied homes is fairly consistent across income groups, with four of the five groups holding no more than $400,000 in wealh in this form. The highest 20% have homes worth an average of $496,000 after mortgage debt is subtracted. Shares and other financial assets are heavily concentrated in the hands of the highest 20% by income. Their average holdings are worht $622,,00 - five times that of the middle 20% ($124,000) and nine times that of the lowest 20% ($73,000). The avearge superannuation wealth of the highest 20% is $496,000, three times that of the middle 20% ($179,000) and nine times that of the lowest…
Profile of each household income group by income support status
Unlike most other graphs in this website, this one is limited to the 21% of people (including children) living in households where the reference person (usually the highest income-earner) receives an income support payment. Its purpose is to compare the types of income support payments received in low, middle and high household income groups. Among people towards the lower end of the income scale, there is an increasing proportion of households where the reference person receives Newstart Allowance People in households whose reference person receives Newstart Allowance comprise 16% of the lowest 20% income group; 30% of the lowest 10% income group; and 47% of the lowest 5% income group. The reasons for the greater concentration of people in households receiving Newstart Allowance in the lowest income groups are that Newstart is the lowest, and most strictly income-tested, of these income support payments. On the other hand, a slight majority (51%) of people in the lowest 20% income…
Australia’s population by gender
Those identifying as female comprise 51% of the population, while those identifying as male comprise 49% of the population.
Trends in average wealth by wealth group
This chart shows the real value (after inflation is taken into account) of average wealth holdings of each wealth group, compared over time. As with income inequality, changes in wealth inequality were driven mainly by the highest 20% wealth group, although this growth was more volatile than for middle and low wealth groups. This was due in part to the greater share of the wealth of the highest 20% held in financial assets such as shares. The average household wealth of the highest 20% rose from $1.9 million in 2003-04 to $2.6 million in 2009-10, declined to $2.4 million in 2011-12 and rose again to $3.255 million in 2017-18.
Increase in average wealth by wealth group
This graph compares the increase in real value (after inflation is taken into account) of average wealth holdings of each wealth group. Between 2003-04 and 2017-18: The average wealth of the highest 20% wealth group rose by 68%. The average wealth of the middle 20% wealth group rose by 36% The average wealth of the lowest 20% wealth group rose by 6%.
Change in shares of overall wealth by wealth group
This shows changes in the shares of overall household wealth held by each wealth group. Between 2003-04 and 2017-18, the highest 20% wealth group increased its share of overall wealth by 4.5%, while the share of all other groups declined. This represents an unambiguous increase in wealth inequality over the period.