Wealth makes an important contribution to the economic wellbeing of Australian households through generating increased consumption opportunities, income flows and economic security. Wealth also protects against financial stress and poverty. Until now, information on the wealth of regions has not been freely available.
The main contribution of this study is to fill that gap by providing new information on household wealth for Australia’s regions. BITRE has developed these new measures of household wealth by disaggregating the Australian Bureau of Statistics’ 2003–04 Survey of Income and Housing estimates of wealth to a detailed regional scale using small area estimation techniques and a range of small area data sources (e.g. house price statistics, taxation statistics, census data). Estimates of average household wealth, and its composition, have been produced for 1135 Statistical Local Areas.
In addition to analysing the spatial distribution of household wealth, the study aims to: • improve understanding of household wealth and its relevance to regional wellbeing • highlight recent trends in household wealth • explore the relationship between regional wealth and regional income.