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Australian household wealth surges despite impact of pandemic – NEWS.com.au
Australian household wealth surges despite impact of pandemic
Household wealth in Australia has hit a record high despite the coronavirus pandemic, partly due to people squirrelling away savings in their banks.Australian Bureau of Statistics data released on Thursday show total household wealth rose by 1.7 per cent to a record high of $11,351b in the September quarter, eclipsing the previous high of $11,248b recorded in the December quarter last year.
The increase was mainly attributed to a 5.4 per cent surge in deposits, a 1.2 per cent lift in property values…
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