Rising property wealth pushes 1.9 million Australians into millionaire status
Rising property prices have propelled one in 10 Australians into the ranks of the world’s millionaires, according to the 2025 UBS Global Wealth Report.
The Swiss bank found 1.9 million Australians now have a net worth of at least US$1 million ($1.55 million), with more than half of that wealth tied up in property. This number is tipped to keep climbing, with 400,000 more expected to join the millionaire club by 2028.
Australia also boasts the world’s second-highest median wealth per adult, at US$268,000 ($411,000), and ranks fifth globally in average wealth at US$620,000 ($952,000).
“Australia stands out for its real estate,” the UBS report said, noting that almost 53% of household wealth is locked in bricks and mortar.
That puts Australia well ahead of other countries when it comes to the importance of housing in building net worth.
About the author – Alex Veljancevski is a Sydney Mortgage Broker with Eventus Financial, which assists first home buyers, investors, upgraders and borrowers seeking to refinance to a better deal on their home loan.
