There’s lots of benefits associated with moving to Australia? Sunny weather, a better lifestyle, beautiful beaches and the Aussie way of life but to name just a few.
According to a new survey undertaken by company, Credit Suisse, you can add being ‘completely minted’ onto the list.
According to the report released today, the median wealth of adult Australians stands at $US219,505 ($233,504) – the highest level in the world.
Median wealth is the midpoint between richest and poorest, meaning that 50 per cent of the population has more than $233,504, and 50 per cent less than that.
By the measure of average wealth, Australians fall back to second with $US402,578 per person, ranking behind the Swiss who were the world’s richest on $US513,000.
Credit Suisse chief investment strategist, Australia, David McDonald said the nation’s household wealth per adult grew by 2.6 per cent in the past year. That was slower than the global average of 4.6 per cent, but Australia still had the best distribution of wealth among developed nations.
Although we are up there at a high level of wealth per adult we’ve also got a better spread than a lot of the other developed countries including, obviously, the Swiss, but also places like the US, Mr McDonald said.
The number of Australian millionaires increased by 38,000 to 1.123 million people. About half of the rise in Australian wealth is due to exchange rate appreciation, whilst high salaries in sectors like the mining industry have also contributed to the increase.
The millionaire calculation includes the value of real estate owned outright. Australians were shown to have a much higher level of wealth held in property and non-financial assets – 58.5 per cent compared to the world average of 45 per cent and just 38 per cent in the US.