The Melbourne Institute’s Living in Australia study has shown that Australian household wealth increased by more than a third from 2002 to 2006.
The study found households’ average net wealth jumped from $494,000 to $665,00 during this time, driven by a sharp rise in the value of houses and superannuation.
Senior research fellow at the Institute Dr Roger Wilkins said the rise in wealth was equally shared, “the gains that we saw over that period were very widely distributed.”
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