Credit Suisse Global Wealth Report for 2019 estimates that Australian wealth levels fell by $42,000
Revealed: How Australians became $42,000 poorer on average this year - as people in most other developed nations got richerCredit Suisse Global Wealth Report revealed Australians lost $41,758 this yearThis occurred as the Swiss became $25,915 richer while US wealth rose $17,450Swiss bank blamed falling Australian house prices for plunge in per capita richesAustralia's tally of millionaires dived by 124,000 as property values kept fallingA typical Australian's average wealth in terms of their assets fell to $562,290 By Stephen Johnson For Daily Mail Australia
Published: 00:47 BST, 22 October 2019 | Updated: 00:54 BST, 22 October 2019
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Australians have become $42,000 poorer on average this year as people in most other developed nations got richer, a Swiss bank has revealed.
Credit Suisse's Global Wealth Report for 2019 had plenty of good news for those in Switzerland, the United States, Japan, the Netherlands, New Zealand and Singapore.
As individuals in most developed nations saw their wealth increase, Australians saw the value of their assets dive by $41,758 or $US28,670 - to an average of $562,290 ($US386,058).
Australians have become $42,000 poorer on average this year as people in most other developed nations got richer, a Swiss bank has revealed. This occurred as individuals in the United States and Switzerland saw their wealth increase
Australia at a glance Wealth levels fell $41,758 ($US28,670)
Average wealth in terms of assets per adult stands at $562,290 ($US386,058). This includes items like real estate and shares
Tally of millionaires fell by 124,000 to 1.18million
Source: Credit Suisse Global Wealth Report, 2019
By comparison, Swiss per capital wealth levels surged by $25,915 ($US17,790) as equivalent American wealth climbed by $17,450 ($US11,980).
Diving house prices in Sydney and Melbourne in particular had eroded wealth levels in Australia, with Credit Suisse noting national property prices had fallen by s..
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