The number of millionaires will grow by 21 per cent in the next four years as surging home values, superannuation balances, and gifts and inheritances push Australians up a global ranking to become the second-richest people in the world on paper.
The average Australian’s wealth grew by nearly 10 per cent in 2023, more than twice the average rate of the other 56 countries studied as part of the 2024 UBS Global Wealth Report.
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Lucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com
