The ranks of the “established affluent” in Australia swelled by 45,000 people last year, on the back of strong market returns and property valuations.
Investment Trends, a research consultancy, classifies people with more than $1 million excluding the family home and superannuation (but including self-managed superannuation fund assets) as “high net worth”.
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Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
