Average Household Net Worth in Australia 2009-10

An information site for British Migrants to Australia, providing information since October 2005. Post Content follows this advert.

The average net worth of Australian households can obviously vary between very high (Australian Bank CEO’s )and very low (Homeless people), however a few figures that have been released for 2009-10 by the ABS.

The Average Australian Household Net Worth for 2009/10 was $719,561, with the median figure being $425,502.

The Poorest Group

The poorest 20% of households account for 1% of total household net worth, with an average net worth of $31,829 per household, ($30,000 Median).

The Richest Group

The wealthiest 20% of households in Australia account for 62% of total household net worth, with an average net worth of $2,223,013 per household, ($1,475,005 Median)

The Middle Group

Using the above two figures, the middle 60% must then account for 39% of total household net worth.

This group is now split into three, each with 20% of the overall total in number of households:

1: $195,749 average net worth per household ($194,283 median)
2: $427,168 average net worth per household ($425,527 Median)
3: $720,536 average net worth per household ($708,057 Median)

The difference between Median and mean Average is only of real notice in the highest income group, with the remaining 80% of households having similar Median to Mean figures.

There were a total of 8,395,500 households.
5,330,300 were in Capital Cities with the remaining 3,068,200 outside the Capital Cities.

Charting the Median Net Worth figures we see the following for 2009/10:

Groups Mean Net Worth
Lowest 20% $ 30,000
Next Lowest 20% $194,283
Middle 20% $425,527
Next Highest 20% $708,057
Highest 20% $1,475,005
Overall Median $425,502

Source: ABS 6523.0 – Household Income and Income Distribution, Australia, 2009-10

Mean Average = All values divided by the number of Households.
Median Average = The household value where 50% of the others are above that point, and 50% are below.



0 0 votes
Article Rating
Subscribe
Notify of

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x