Household wealth in Australia has grown strongly over the past two decades, supported by rising housing values, expanding superannuation balances and sustained asset price growth. But this growth has not been evenly distributed across the population or across the life course. 

This briefing examines the distribution of net worth and its key components across Australian age cohorts, with a particular focus on households aged 65 and over. The results reveal a striking shift in the wealth distribution as Australia’s population ages.

Understanding how wealth is distributed across age groups is essential for assessing economic security, retirement preparedness and emerging intergenerational pressures. It also helps explain how families respond to changes in tax settings, housing markets and retirement income policies.

Key findings

• Australia’s wealth has reached record levels. 
• Older Australians now hold a growing share of national wealth.  
• Housing remains the dominant store of wealth. 
• Superannuation balances are rising across successive cohorts. 
• Debt burdens differ sharply across age groups. 
• Wealth inequality remains pronounced within older age groups.