Are You Feeling Wealthy?

The ABS says the total value of residential dwellings in Australia rose by $196.8 billion to $10,397.1 billion in the past quarter. But these gross values are misleading because they are not equally distributed across all households. To illustrate this, I extracted current value data from my household surveys and created a distribution chart across all households, including both investment and owner-occupied holdings, based on a mark to market at end February 2024. So we can see, standing back, that while some households will be feeling wealthy and celebrating the massive rise in home prices in recent years, many others […]