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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ongoing NSW lockdown, the ins and outs of the COVID-19 Disaster Payments, and how Brisbane’s successful Olympics bid could impact equities and property.

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Steve Waters, director of Right Property Group, chats about the impact of the lockdowns on the property market, what the 2032 Olympics could mean for Brisbane’s market, and whether APRA might need to pull the handbrake to cool house price growth.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into how the Olympics and other major events affect stock returns and what the implications are for investors.

And lastly, tax and super guru Timothy Munro talks about the near-record super returns, the COVID-19 Disaster Payments and what they mean for your super.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Retirement

How much debt does the average Australian hold?

By Cameron Micallef

July 04 2019
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Retirement

How much debt does the average Australian hold?

By Cameron Micallef
July 04 2019

The value of assets held by Australians has almost doubled between 2007 and 2019, according to a new market report, which also revealed average debt levels.

How much debt does the average Australian hold?

By Cameron Micallef

July 04 2019
Share

The value of assets held by Australians has almost doubled between 2007 and 2019, according to a new market report, which also revealed average debt levels.

Notably, Australia’s personal wealth levels have grown in the past 12 years, including the global financial crisis, with other OECD nations, particularly in Europe, have gone backwards over this time frame.

The average assets for Australians has grown to 8.1 times the average debt levels, which is an improvement from 7.4 times when the report began. Now the average assets an Australian holds is $484,000.

However, the increase in wealth has come with an increase in debt, which has grown by 78.6 per cent over the same time. The average Australian now holds $60,000 worth of debt.

Average per capita net wealth adjusted for inflation is up 28 per cent and the median net worth per capita is up 8.8 per cent after inflation.

Women have improved their average net wealth position relative to men, with males now holding an average of 12.3 per cent more wealth than women. This is an improvement from 27.4 per cent advantage to males in 2007.

Roy Morgan CEO Michele Levine believes the data does not match the reports when it comes to fears about high debt levels for properties in Australia.

“Housing debt has grown considerably since 2007, but not uniformly. Roy Morgan’s data shows wealthier cohorts have shown a much greater propensity to take on debt, and those investors have more ability to handle downturns than more marginal borrowers in lower-wealth segments.

“A more detailed understanding of how debt and personal wealth are distributed can help dispel some of the more simplistic fears over debt and give a more balanced view of its relationship to wealth creation in Australia over the long term,” said Ms Levine.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

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