While hailing the rapid rise in personal riches, the report also warned that the \u201cgains were uneven\u201d.<\/p>\n
\u201cWhile average wealth rose notably, median wealth actually declined in most markets, highlighting a growing divide between the wealthiest and the broader population,\u201d it said.<\/p>\n
The median delivers a better insight of \u201ctypical\u201d wealth levels at the middle of the scale, while the average can be distorted by the distribution of outcomes \u2013 such as a small group of very wealthy individuals.<\/p>\n
Sign up for the Breaking News Australia email<\/a><\/p>\n This effect was evident in Australia, where UBS calculated that average personal net wealth climbed by 19% so far this decade \u2013 even after accounting for high and persistent inflation over that time between 2020 and 2025.<\/p>\n But this masked a nearly 7% contraction in the median wealth of Australian adults over the period, suggesting expanding wealth has favoured those at the top.<\/p>\n Australia is not alone.<\/p>\n Chart listing top 30 countries by median wealth<\/a><\/p>\n Through the past six years, median wealth is lower in 18 of the 29 countries analysed by UBS, including a roughly 20% decline in Germany, the US and the UK.<\/p>\n In contrast, median wealth in the 2020s has jumped by 50% in Japan, 20% in India; and more than 10% in South Korea.<\/p>\n Saul Eslake, an independent economist, said \u201cAustralia hasn\u2019t experienced as much widening in income inequality as quite a lot of other similar countries, but we have had big increases in wealth inequality<\/a>\u201d.<\/p>\n \u201cThe biggest driver of inequality by wealth is housing<\/a>,\u201d Eslake said.<\/p>\n Property wealth and compulsory superannuation helped Australian adults have the third-highest median net wealth in the world, at nearly $US211,000 (A$306,000), behind Luxembourg and Belgium.<\/p>\n
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