Household Income and Wealth Australia 201920 Summary of Results
The Australian Bureau of Statistics (ABS) released the Household Income and Wealth, Australia, 201920 (HMS 6210.0) in 2023. This survey provides the most detailed picture of how Australian households earn, save, invest, and own assets, and how those patterns differ by region, household type, and demographic characteristics.
Key Findings at a Glance
- Average weekly equivalised disposable income was AU$1,657, a 3.3% rise from 201718.
- The median weekly equivalised disposable income was AU$1,473, indicating that half of all households earn less than this amount.
- Total household wealth grew to AU$15.2trillion**, a 5.5% increase over the previous survey.
- Home ownership remained the largest component of wealth, representing 72% of total household assets.
- Net financial wealth (excluding the family home) rose by 6.2% to AU$2.9trillion.
- Income inequality measured by the Gini coefficient was 0.34, slightly higher than in 201718.
Understanding the Measures
Disposable Income
Disposable income is the amount of money a household has after taxes and mandatory transfers (such as pensions) are accounted for. The ABS presents the data in two ways:
- Equivalised disposable income: Adjusted for household size and composition using the modified OECD scale, allowing meaningful comparisons across households of different sizes.
- Weekly figures: Useful for tracking changes over time and for comparing with labour market statistics.
Household Wealth
Wealth is the net value of assets owned by households, calculated as total assets minus total liabilities. The major asset groups are:
- Family home the most valuable single asset for most Australian households.
- Financial assets bank deposits, shares, superannuation and other investments.
- Business assets ownership of businesses, often held by the selfemployed.
- Other assets motor vehicles, land (excluding the family home), and personal effects.
Income Distribution
The distribution of disposable income continues to be skewed, with the top 10% of households earning around 30% of total disposable income, while the bottom 10% receive just under 5%.
Regional differences are pronounced:
- Australian Capital Territory (ACT) enjoys the highest median disposable income (AU$1,710 per week), driven by a high concentration of professional and publicservice jobs.
- Queensland and Western Australia show strong growth in median income, reflecting mining and resourcesrelated employment.
- Northern Territory records the lowest median disposable income (AU$1,211 per week), reflecting higher Indigenous population proportions and limited servicesector employment.
Wealth Distribution
Wealth is even more concentrated than income. The top 20% of households own approximately 63% of total net wealth, while the bottom 20% hold less than 1%.
Key observations:
- Home ownership rates remain high (67% of households own the family home), but the share of households that rent has risen to 31%.
- Superannuation balances have grown substantially, now representing about 22% of total household wealth.
- Debt levels are rising, with net debt to net wealth ratio increasing from 30% in 201718 to 34% in 201920.
What the Data Means for Policy
Policymakers use the HMS results to assess the effectiveness of tax policy, social welfare programs, and housing affordability initiatives. Some implications drawn from the 201920 release include:
- Tax fairness: The modest rise in the Gini coefficient suggests that existing progressivity may need strengthening to curb growing inequality.
- Housing affordability: With home ownership still dominant but house price growth outpacing income growth, the data reinforce the need for targeted firsthomebuyer assistance and increased rental supply.
- Superannuation reforms: As super balances become a larger wealth component, ensuring equitable access and appropriate withdrawal rules is vital for retirement security.
Methodology Snapshot
The HMS survey is a rotating panel with a sample of about 20,000 households each year. Data collection combined facetoface interviews, telephone interviews, and online questionnaires. Income and wealth figures are gross before imputed rent for homeowners and other statistical adjustments to ensure comparability across household types.
Future Releases
Annual updates will continue to track the impact of COVID19, changes in the labour market, and the effects of policy reforms. The next release (202122) will provide early insight into postpandemic recovery patterns.
Further Information
For the full technical documentation, data tables and methodological notes, visit the ABS website:
ABS Household Income and Wealth, Australia, 201920 Release page
Download the complete dataset (ZIP, 44MB) here:
Key Takeaways
- Disposable income grew modestly, but inequality slightly increased.
- Total household wealth rose, driven mainly by rises in home values and superannuation.
- Wealth concentration is stark; the richest fifth own the majority of assets.
- Regional variations highlight the importance of locallytargeted policies.
These results provide a vital benchmark for assessing economic wellbeing and for shaping policies that promote a more inclusive and financially secure Australia.
Household Income And Wealth Australia 2019 20 Summary Of Results and Reference File Downlo...
PERHIMPUNAN PELAJAR INDONESIA AUSTRALIA (PPIA) RANTING UNIVERSITAS SOUTH AUSTRALIA (UniSA)...