The Australian Bureau of Statistics (ABS) released yesterday household wealth data for the March quarter of 2022, which revealed that total household wealth increased by 1.2% ($ 173 billion) over the March quarter 2022 reaching a record $ 14.891 billion:
Total dwelling assets rose another 2.2% ($ 210 billion) over the quarter to a record high of $ 9.7 trillion, whereas total financial assets fell 0.1% to $ 6.8 trillion.
The next chart, which comes from a separate Reserve Bank of Australia quarterly series, shows that Australian dwelling values hit a record high 644% of household disposable income in the March quarter, up from 500% in June 2020:
Per capita household wealth also rose by 1.1% over the March quarter to a record high of $ 577,000, with per capita dwelling assets rising 2.1% to $ 377,000 and per capita financial assets falling 0.2% to $ 262,000:
The above is obviously the high water market for household wealth given financial markets are tanking and house prices are rolling over amid rising interest rates.