Australia's Median Wealth Falls 7% Since 2020 as Average Wealth Rises 19%
Updated
Updated · The Guardian · Jul 2
Australia's Median Wealth Falls 7% Since 2020 as Average Wealth Rises 19%
2 articles · Updated · The Guardian · Jul 2
Summary
UBS said Australian adults' median net wealth shrank nearly 7% from 2020 to 2025 even after inflation, showing typical households lost ground while overall wealth expanded.
Average personal wealth still climbed 19% over the same period, and more than 25,000 Australians became millionaires last year, indicating gains were concentrated at the top.
Housing wealth and compulsory superannuation helped keep Australia’s median net wealth the world’s third highest at about US$211,000, though economist Saul Eslake said property is also the biggest driver of wealth inequality.
UBS found the pattern was widespread, with median wealth lower in 18 of 29 countries studied, while Eslake said rising inequality can eventually weigh on growth and argued for measures such as inheritance and broad land taxes.
How is typical wealth declining as the number of millionaires hits a record high?
With an $83 trillion wealth transfer looming, can new taxes stop a permanent wealth gap?
The 2026 Wealth Divide in Australia: Billionaire Surge, Housing Crisis, and Policy Inertia
Overview
In mid-2026, Australia faces a striking wealth paradox, with wealth rapidly accumulating at the top while economic inequality persists. The ultra-wealthy class has grown, as highlighted by a 2025 Oxfam report showing a surge in new billionaires from industries like design software, plumbing supply, and medical imaging. This expansion of the billionaire class underscores the widening gap between the richest Australians and the rest of society. The report sets the stage for examining how this concentration of wealth contrasts with the financial challenges faced by many, revealing deep structural divides in asset ownership and economic opportunity.