Australia’s wealthiest 20% worth 90 times the country’s poorest, new report reveals

Australia’s wealthiest 20% hold 82% of the value of all investment property, according to a new Acoss-UNSW report, which highlighted growing inequality in the country. Photograph: Jason Reed/Reuters

Australia’s wealth gap has continued to grow over the past two decades, with superannuation and property investment driving inequality across the country, a new report from the Australian Council of Social Service and the University of New South Wales has revealed.

Over the past two decades the average wealth of the top 20% has grown at four times the rate of the lowest, the report has shown using figures from the latest Australian Bureau of Statistics data in 2019.