Household Wealth Soared 3.3% during December 2019 Quarter.

  • Mar 26, 2020
  • Team Kalkine

ABS reported an increase in household wealth for December 2019 quarter by 3.3% to $11,309 billion due to real (inflation adjusted) holding gains on residential real estate.

The average household wealth rose by $12,809 to $442,705 each individual this quarter and household wealth grew 10.2% during the year. Thus, household wealth per person increased 8.6% during the year as compared to the population growth of 1.5%.

Further, no notable impact was seen during the December 2019 quarter on Finance and Wealth statistics due to the bushfires.

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

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