Australians have never been wealthier: ABS data

Official data released today shows Australians, on the whole, have never been wealthier — but welfare groups say the figures highlight a growing divide between social classes across the nation.

Australian Bureau of Statistics (ABS) figures show total household wealth stood at a record $9.6 trillion at the end of March — up 2.4 per cent over the past quarter.

And to the delight of the tourism industry, Australia’s longstanding reputation as a land of opportunity has recaptured the attention of young and globally-mobile students who are flocking here to take advantage of what is on offer.

Source: Australian households reach record levels of wealth, welfare groups warn of growing divide – ABC News (Australian Broadcasting Corporation)