There is a significant inequality in wealth between of the highest 10% and the lowest 60% people in Australia. This graph presents the wealth profiles of these groups.
Of the wealth of the richest 10% in 2021:
• A higher proportion was held in investment property (18%), shares, bonds and trusts (13%), and own-business assets (9%), compared with 8%, 3% and 2% respectively for the middle 30%;
• A lower proportion was held in their homes (32%), superannuation (19%), deposits (5%), and durables (4%), compared with 50%, 21% and 9%
respectively for the middle 30%.
Of the wealth of the lower 60% in 2021:
• Higher proportions were held in superannuation (23%), durables (17%) and deposits (8%), compared with 21%, 9% and 7% respectively for the middle 30%;
• A similar proportion was held in their homes (48% compared with 50%, taking account of people who were not owner-occupiers);
• Almost negligible proportions were held in investment property (4%), shares, bonds and trusts (1%), and own-business assets (1%), compared with 8%, 3% and 2% respectively for the middle 30%.
• In part, this reflects the relative youth of people with low levels of wealth. Young people are less likely to be homeowners, and more of their wealth is tied up in bank deposits and cars.