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This is set against a median personal income of just $55,062 per year, as reported by the Australian Bureau of Statistics (ABS).
The average Rich Lister has over 116,000 times the wealth of an Australian in the bottom 50 per cent.
Over the past decade, the wealth of billionaires has increased at a rate of $95,000 every minute — surpassing the annual income of the median Australian taxpayer. Source: SBS News
‘Morally wrong, economically and socially dangerous’
“Millions of households struggle to put food on the table while the super-rich live in excess.”
In the past ten years, retail, investments, and mining/resources have been prominent sectors contributing to wealth growth, following property as the primary source for the affluent Australians.
The rise of housing unaffordability — and billionaire wealth
According to Anglicare Australia’s 2025 Rental Affordability Snapshot:
- Only 0.7 per cent of rental listings are affordable for someone earning a full-time minimum wage.
- Just 12.8 per cent rental properties are affordable for a family of four on two minimum wage incomes.
- For people on JobSeeker, the Disability Support Pension, or the Age Pension, affordable rentals are virtually nonexistent.
“It is scandalous and unjust that property continues to be one of the biggest drivers of wealth across the decade while over 99 per cent of rentals are unaffordable for people earning a full-time minimum wage,” Muli said.
The Anglicare Snapshot surveyed 51,238 rental listings across Australia, revealing that just 0.7 per cent of rentals were affordable for someone earning a full-time minimum wage. Source: SBS News
Meanwhile, the 2024 PropTrack Housing Affordability Report found housing affordability to be at a record low — with a typical household earning a combined income of $112,000 a year, able to afford just 14 per cent of all homes sold across the country.
Their analysis showed that you now need to be a high-income household, classified as earning $213,000 a year, to be able to afford to buy half the homes sold in Australia over that year.
