Australia ranks third-highest for median wealth globally, UBS data shows
Australia holds the third-highest median wealth globally at $306,074, according to UBS data. It is pipped at the post only by Luxembourg and Belgium.
Australia ranked as the third-highest country for median wealth globally at $306,074, according to a UBS global wealth report. It was pipped at the post only by Luxembourg and Belgium.
Median wealth is often seen as a better guide to the typical household than an average, because it marks the midpoint of the wealth distribution. Australia's strong ranking is commonly attributed to housing assets and retirement savings.
The report draws attention for what it shows about wealth distribution and cross-country comparisons. Economists note that swings in house prices and exchange rates can shift such rankings over time, so the standings can move from year to year.
Read next
Union warns of multibillion-dollar hit from National's KiwiSaver pledge
New Zealand's Public Service Association (PSA) has taken aim at the National Party's KiwiSaver policy, claiming it carries a multibillion-dollar hidden cost for schools, hospitals and other public services. The debate centres on retirement-savings contributions.
Trump Accounts for children launch July 4 with federal seed deposits
Australian Home Loan Burden Now Heavier Than 17% Interest-Rate Days, Analysis Finds
South Korea Embraces 24-Hour Won Trading in Break With Currency 'Trauma'
