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Australia's rich are getting richer... and guess what?
From: news.com.au
October 14, 2011 1:42PM
The poorest 20 per cent of Australians account for just 1 per cent of total household wealth. Picture: Simon Dallinger. Picture: Annette Dew.
Houses
The middle class are doing better with their average household wealth up 14 per cent to $720,000. Picture: File
THE poor are getting poorer. It's official - the divide between the haves and have-nots is greater than ever before.
The poorest 20 per cent of Australian households account for just 1 per cent of total household wealth.
That average net worth of $32,000 per household, an improvement of only 4 per cent from 2005-06, cowered in comparison to the richest 20 per cent, who enjoyed a 15 per cent spike to 2009-10.
In perhaps the clearest indication yet of the gap between classes - the top 20 per cent enjoy an average of $2.2 million per household, which accounts for nearly 70 per cent of the whole country's wealth.
The middle class is also doing better with their average household wealth up 14 per cent to $720,000.
The family home was the biggest contributor to household wealth.
About 2.7 million households owned their home outright, with an average value of $541,000. For those with a mortgage, the average house value was $521,000 with an average mortgage of $188,000.
Superannuation is our main financial asset, with the average household value at $154,000.
From: news.com.au
October 14, 2011 1:42PM
The poorest 20 per cent of Australians account for just 1 per cent of total household wealth. Picture: Simon Dallinger. Picture: Annette Dew.
Houses
The middle class are doing better with their average household wealth up 14 per cent to $720,000. Picture: File
THE poor are getting poorer. It's official - the divide between the haves and have-nots is greater than ever before.
The poorest 20 per cent of Australian households account for just 1 per cent of total household wealth.
That average net worth of $32,000 per household, an improvement of only 4 per cent from 2005-06, cowered in comparison to the richest 20 per cent, who enjoyed a 15 per cent spike to 2009-10.
In perhaps the clearest indication yet of the gap between classes - the top 20 per cent enjoy an average of $2.2 million per household, which accounts for nearly 70 per cent of the whole country's wealth.
The middle class is also doing better with their average household wealth up 14 per cent to $720,000.
The family home was the biggest contributor to household wealth.
About 2.7 million households owned their home outright, with an average value of $541,000. For those with a mortgage, the average house value was $521,000 with an average mortgage of $188,000.
Superannuation is our main financial asset, with the average household value at $154,000.
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