Thursday, October 10, 2013

Rich Australians More Into Real Estate than the Rich Anywhere Else

I love the term High Net Worth Individuals (HNWIs). I'd probably love it even more if I was one or even if my dad was one. But considering the behaviour of the Whinearts, sorry Rineharts perhaps I'm better off being moderately well off.

Anyway ...

According to BRW, a HNWI is "a person with $US1 million ($1.05 million) or more in investable assets"

This graphic from Capgemini  shows that wealthy Australians are overweight property compared to the rest of the world and other economies. HNWIs in Australia have 40.6% of their assets in real estate compared to 20.8% for the rest of the world.

This means that they have done very well over the past decade or so as Australia avoided the crashes in other economies. It also means that a property crash in Australia will leave them relatively worse off. 

According to BRW, Australia increased its number of HNWIs in 2012 as did most other countries. 
The population of Australia’s HNWs ... jumped 15.1 per cent last year compared with 2011, according to the latest World Wealth Report from Capgemini and RBC Wealth Management ...
There were about 207,000 wealthy individuals in Australia in 2012 who sat on a $US625 billion pile of assets.
The research found that the world’s population and investable wealth of HNW individuals reached record levels last year, after increasing more than 9 per cent to hit 12 million people.
North America and the Asia-Pacific boasted the two largest HNW regions and drove global growth.
Asia-Pacific countries, including Indonesia, Australia, China, New Zealand and Thailand, posted double-digit growth rates.
 Its fair to say not everyone in the United States is still suffering from the ill effects of global economic crisis.

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