Business
Surging property prices boost household wealth, which grows at highest rate in 11 years – NEWS.com.au
Surging property prices boost household wealth, which grows at highest rate in 11 years
Total household wealth jumped 4.3 per cent in the final three months of last year the highest quarterly growth rate in 11 years, Australian Bureau of Statistics data shows.Residential assets contributed 2.2 percentage points, followed by superannuation balances and directly held shares at 1.4 and 0.5 percentage points respectively.
“The December quarter growth in household wealth was driven by rising residential property prices, reflecting record low interest rates, support through government programs…
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