Australia Added 25,000 Millionaires Last Year, UBS Wealth Report Finds

Australia's ranks of the wealthy grew by roughly 25,000 people in 2025, according to the latest UBS Global Wealth Report, bringing the total number of Australian millionaires to 1.6 million.

The country now sits third in the world for median wealth per adult, at 210,783 US dollars, or about 306,074 Australian dollars, trailing only Luxembourg and Belgium. On average wealth per adult, Australia ranks fifth globally at 616,306 US dollars, or roughly 894,182 Australian dollars.

Property still doing the heavy lifting

Once again, real estate is the main engine behind the gains. Australian households collectively hold 12.3 trillion dollars in residential property, a figure larger than the combined economic output of Japan, India and the United Kingdom. The average house price nationally now sits just over 1.1 million dollars, and most of the wealth held by Australian millionaires sits in property and other non financial assets rather than cash or investment portfolios.

A more even split than most

The report also found wealth inequality in Australia has narrowed, with the country's Gini coefficient falling to 0.53, placing it among the more evenly distributed wealth bases in the study. That stands in contrast to the global picture, where median wealth actually declined in most of the countries surveyed even as overall wealth climbed.

Globally, personal wealth rose 10.8 percent in 2025, more than double the 4.6 percent pace recorded the year before. The United States added more than 440,000 new millionaires over the same period, and North America together with Greater China now account for 56 percent of the world's millionaire population.