![\"Matt](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/25611a2557110140db195f09bab958d41123ba0d1fd3aea47f7432f64621ef20.png\")
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Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n A key indicator of household wealth has stagnated over the past five years as the gap between Australia\u2019s richest households and everyone else widens.<\/p>\n Median household wealth \u2013 the middle value for all households – has been stuck around $700,000 since 2019-20 despite a surge the value of housing and other assets since the COVID-19 pandemic.<\/p>\n New modelling by KPMG shows the post-pandemic asset boom, fuelled by ultra-low interest rates, disproportionately benefited the richest fifth of households, which have net wealth of $1.6 million and above.<\/p>\n That group, which has grown from 15 per cent to 22 per cent of households over the past decade, has benefited from strong gains in property and share markets, along with rapid debt reduction.<\/p>\n \u201cFor these households, wealth hasn\u2019t just grown, it\u2019s multiplied into the millions,\u201d the report says.<\/p>\n About a third of Australian households \u2013 a total of 3.35 million \u2013 hold less than $300,000 in wealth, which is less than half the nationwide median wealth and just 19 per cent of Australia\u2019s average household wealth.<\/a><\/p>\n<\/p>\n This group includes pensioners and other low-income groups who don\u2019t own a home, along with younger people yet to accumulate significant assets.<\/p>\n KPMG urban economist Terry Rawnsley, who conducted the analysis, said this low wealth segment of the population had missed out on the post-pandemic asset boom.<\/p>\n \u201cWithout housing or investment assets, wealth for these households has been largely stagnant,\u201d he said.<\/p>\n The wealth findings come as the federal government prepares to unveil measures to promote \u201cintergenerational\u201d equity in Tuesday\u2019s federal budget.<\/p>\n Treasurer Jim Chalmers is expected to scale back provisions that favour property investors, i<\/a>ncluding the 50 per cent capital gains discount and negative gearing rules<\/a>. An increase to the minimum tax on discretionary trust distributions is also anticipated.<\/p>\n \u201cI think it\u2019s really clear to a lot of Australians that the housing market and the tax system is making it harder for people, particularly for younger people,\u201d Chalmers said last week.<\/p>\n Family budgets have been sapped by a lingering post-pandemic cost-of-living crunch stoked by elevated inflation and higher interest rates. KPMG\u2019s analysis shows those factors have coincided with stagnating wealth for millions of households.<\/p>\n \u201cThese numbers help explain the frustration we\u2019re seeing as people feel they\u2019re not getting ahead but see the top end of town pulling away,\u201d said Rawnsley.<\/p>\n The difference between the average wealth and median wealth of households during the past five years highlights the growing wealth disparity.<\/p>\n Average household wealth surged from $1.26 million to $1.56 million between 2019-20 and 2024-25, an increase of 24 per cent in real terms.<\/p>\n<\/p>\n But the median, or middle value, of household wealth was basically unchanged at about $700,000 during that period.<\/p>\n Only about one-fifth of households have the nation\u2019s average wealth level, or higher, the KPMG modelling shows.<\/p>\n \u201cThe data suggests wealth growth has been concentrated among the richest households, rather than reflecting broad improvements across the community,\u201d said Rawnsley.<\/p>\n \u201cAsset owners surged ahead, while households without property or investments were largely left standing still, despite superannuation helping the poorest households.\u201d<\/p>\n The number of households within the middle band of net wealth, between $300,000 and $900,000, has declined during the past decade, because rising house prices have lifted some in that group into the higher $900,000 to $1.6 million bracket, which has grown as a share of the population during the past five years.<\/p>\n Households in the $900,000 to $1.6 million bracket had enough equity in their homes to benefit from the post-pandemic asset surge.<\/p>\n \u201cThe compounding effect of property and superannuation really shows up in this group and, with mortgage debt largely under control, wealth accumulation continues to accelerate very quickly,\u201d Rawnsley said.<\/p>\n Get the day\u2019s breaking news, entertainment ideas and a long read to enjoy. Sign up to receive our Evening Edition newsletter.<\/a><\/p>\n Save<\/p>\n You have reached your maximum number of saved items.<\/p>\n Remove items from your saved list<\/a> to add more.<\/p>\n![\"Median](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/05\/77ef768d9ece5d33a4fc0f35faa5732767e0c597.jpeg\")
Median household wealth in Australia stalled during the past five years despite rising house prices.Wolter Peeters<\/p>\n![\"Matt](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/1777460651_933_25611a2557110140db195f09bab958d41123ba0d1fd3aea47f7432f64621ef20.png\")
Matt Wade<\/a> is a senior economics writer at The Sydney Morning Herald.Connect via X<\/a> or email<\/a>.From our partners<\/p>\n","protected":false},"excerpt":{"rendered":"Save You have reached your maximum number of saved items. Remove items from your saved list to add…\n","protected":false},"author":2,"featured_media":662550,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-662549","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/662549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=662549"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/662549\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/662550"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=662549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=662549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=662549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}