The Australian has today reported an estimate from the Australian Bureau of Statistics showing Australian Households have lost 25% of their wealth since the start of the global financial crisis. It suggests the data is conservative as it only covers losses up to the end of September and markets have continued to slide since.
The Average Australian had a net worth of $58,200 in September 2007. This figure excludes property and other non-financial assets. In September 2008, this figure has fallen to $43,000.
» Household wealth crashes – The Age, 19th December 2008.