Australian household wealth rose 2.7 per cent, or $470.1 billion, in the June quarter 2025, led by gains in property and superannuation, according to new figures from the Australian Bureau of Statistics.
Dr Mish Tan, ABS head of finance statistics, said: ‘The growth in household wealth this quarter was driven by strong asset price growth, particularly in residential dwellings and superannuation balances.’
The value of residential land and dwellings increased 1.9 per cent, or $205.2 billion, adding around 1.2 percentage points to household wealth growth. House prices rose 1.4 per cent in the quarter after a flat March, but annual growth slowed to 3.5 per cent, down from 7.4 per cent in the year to June 2024.
Household borrowing rose 1.9 per cent, or $57.5 billion, trimming around 0.3 percentage points from overall wealth growth. ‘There have been three interest rate cuts this year, in February, May and August. Despite this, the full impact of these cuts on house prices and credit growth may not be seen in our data until later this year,’ Dr Tan said.
Superannuation assets increased 4.9 per cent, or $201.6 billion, contributing 1.2 percentage points to the rise in wealth. ‘Both global and domestic share markets recovered sharply from April lows. This recovery followed the announcement of new trade tariff policies in the United States, closing the June quarter higher than at the end of March,’ Dr Tan said.
Other components also supported the increase: shares and equity added $59.0 billion, other financial assets $29.1 billion, and currency and deposits $6.0 billion. Liabilities detracted $60.2 billion from the quarterly change.
Demand for credit fell to $86.5 billion in the quarter, down $37.7 billion from March. Households accounted for $55.2 billion and private non-financial businesses $35.4 billion, partly offset by national general government at -$23.5 billion. ‘While Commonwealth government debt issuance was steady this quarter, a large repayment of existing debt brought the sector’s demand for credit to its lowest level since the series began,’ Dr Tan said.
Figures: Australian Bureau of Statistics.
