Investment Bank Credit Suisse recently conducted the fifth annual study of global wealth trends and found out that Australians are the richest in the world at a median wealth of $US 225,000, with around 60% of household relying heavily on Property.
Only 6% of Australians are living at a wealth below $10,000 compared to 70% of countries worldwide and 29% of the population in the United States. The global wealth is 40% higher than the GFC low in 2008.
The Australian wealth has been on a steady climb, with the net worth of the average Australian ballooning from $US 103,151 in 2000 to $US 431,000 today. Over the past year, the average wealth for Australians has increased to 5%.
Read more about this on the Sydney Morning Herald website.
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