The 12 months to mid-2017 saw the number of Australian millionaires rise by 200,000 – the third-largest increase after the US and Germany.
The Credit Suisse Global Wealth Report showed that over the same period, the number of ultra-high net worth individuals (UHNWIs) rose by 29% to nearly 3000 – the sixth-highest number globally.
The report said the number of millionaires in Australia is forecast to grow by 46% over the next five years, to about 1.7 million.
It noted that personal wealth is dominated by property and other real assets, which make up 86 per cent of estimated household assets.
Makes a lot of sense doesn’t it!
Have a great weekend and catch you next week!