by Sanjeev Sah | Jan 14, 2025 | Market Updates

Household wealth surged by 2.4% in the September 2024 quarter, reaching a record $16.9 trillion, according to the Australian Bureau of Statistics (ABS). That’s a staggering $401 billion increase in just three months, and means household wealth is up 9.9% year-on-year, 

The ABS said this growth was largely driven by rising residential property values, reinforcing its position as a cornerstone of Australian wealth creation.  

CoreLogic’s Pain and Gain report further emphasises this, showing a record $295,000 median profit for property resales during the September quarter.  

Of the 95,000 resales analysed, only 5% made a loss – the lowest level since March 2008. The median loss for these sales was $40,000, steady from the previous quarter but slightly higher than the five-year average.