Australian household wealth rose to more than 1 million, but income growth stagnated. AAP: Darren England
The Australian average household wealth exceeded A $1 million for the first time in fiscal year 2017, an increase of 37 percent from a decade ago, according to the latest Bureau of Statistics income and Housing Survey 2007 / 18, released by Australia`s 2007 / 18 income and Housing Survey (2017 / 18 / 2008), which shows that the average household wealth in Australia exceeded A $1 million for the first time in fiscal year 2017, up 37 percent from a decade ago.
Figures show that the average wealth of Australian households in fiscal year 2005 / 06 was A $749000, compared with A $1.02 million in fiscal year 2017 / 2018.
Bruce Hockman (Bruce Hockman), chief economic officer at Bureau of Statistics in Australia, said household wealth growth was mainly due to the value added of real estate and the growth of live a retired life provident fund, which nearly doubled the average household wealth in the past 12 years.
Income comparison across the country
The median income of pre-tax households across Australia is A $2511 a week. Darwin, the capital city of the Northern Territory, has the highest median income of A $3075 for pre-tax households.
In several capital cities where Chinese live more, Sydney`s median pre-tax household income is A $2867, followed by Perth on the west coast (A $2560), Melbourne (A $2413) and Brisbane (A $2231).
Australia`s Bureau of Statistics says household income growth has been slow in terms of income over the past decade. The figures show that the average household income per week increased by just A $44 to A $1062 by fiscal year 2017 / 08 compared with fiscal year 2007 / 2008.
In the first four years to fiscal year 2007, the average household income rose by A $220 a week to A $1018.
Comparison of weekly pre-tax household income among major capital cities
| 90 percentile | 4982 Australian dollars | 4352 Australian dollars | 4400 Australian dollars | 4923 Australian dollars |
| 80 percentile | 3753 Australian dollars | 3450 Australian dollars | 3324 Australian dollars | 3693 Australian dollars |
| 70 percentile | 3093 Australian dollars | 2853 Australian dollars | 2697 Australian dollars | 2896 Australian dollars |
| 60 percentile | 2495 Australian dollars | 2357 Australian dollars | AUD 2122 | 2373 Australian dollars |
| 50 percentile | 2018 Australian dollars | 1924 Australian dollars | 1666 Australian dollars | 1898 Australian dollars |
| 40 percentile | 1620 Australian dollars | Australian $1579 | 1374 Australian dollars | 1528 Australian dollars |
| 30 percentile | 1220 Australian dollars | 1200 Australian dollars | 1092 Australian dollars | 1153 Australian dollars |
| 20 percentile | 859 Australian dollars | 886 Australian dollars | 824 Australian dollars | 818 Australian dollars |
| 10 percentile | Australian $509A | Australian $523 | Australian $503 | $482 |
| Median income in the region. | 2867 Australian dollars | 2413 Australian dollars | 2231 Australian dollars | 2560 Australian dollars |
| Median Australian income | 2511 Australian dollars | 2511 Australian dollars | 2511 Australian dollars | 2511 Australian dollars |
Source: Bureau of Statistics ABS, Australia
