Original article by John Kehoe
The Australian Financial Review – Page: 9 : 29-Mar-19
Data from the Australian Bureau of Statistics shows that the nation’s overall household net worth fell by $257bn in the December 2018 quarter. This equates to an average of $10,198 per household, and followed a decline of $2,263 in the September quarter. The ABS notes that household net wealth had not declined for two consecutive quarters since the final three months of 2011. Factors such as weaker housing prices and a sharemarket slump weighed on household wealth in the December quarter.
AUSTRALIAN BUREAU OF STATISTICS, AMP CAPITAL INVESTORS LIMITED, STANDARD AND POOR’S ASX 200 INDEX, HSBC AUSTRALIA HOLDINGS PTY LTD, RESERVE BANK OF AUSTRALIA