The city leading Australia’s property recovery MORE: Home comes with helicopter parking Real household income has not kept pace though, rising just $44 in the 10 years to 2017-2018.“While ABS data has shown that there is a recent downturn in the property market, over the longer term there has been sustained growth (37 per cent since 2005—06).”“Over the same time, the average household superannuation balance has almost doubled (90 per cent) from $112,500 in 2005—06 to $213,700 in 2017—18.”But he said, the wealthiest 20 per cent of homes still held over 60 per cent of all household wealth in the country — a situation that has existed since 2011—12. Blue chip ramps up in coveted school zone A surge in superannuation values, which jumped 90 per cent in the past decades, has contributed the jump in household wealth across the country including Brisbane. Picture: AAP Image/Attila Csaszar.The data shows Aussies passed the millionaire mark in the 2017—18, jumping a massive 37 per cent in just 10 years, according to ABS chief economist, Bruce Hockman.Latest average household wealth was $1.02m for that year, he said, compared to nearly $749,000 in 2005—06.More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours agoIn that period property values surged and the average household super balance almost doubled, Mr Hockman said. The top 20 per cent of households including the likes of Australia’s richest woman Gina Rinehart, whose Brisbane home is pictured here, control 60 per cent of the wealth.The top 20 per cent of households had an average value of $3.2m while the middle 20 per cent had 11 per cent of all household wealth — averaging $564,500 per home.Shockingly, the lowest 20 per cent of households was valued at an average of just $32,500, controlling less than 1 per cent of all household wealth.Income growth slowed down in the past decade, according to ABS, rising just $44 to $1062 on average in the 10 years to 2017-18 — compared to a jump of $220 to $1,018 in the four years to 2007-2008. The average Australian household is now worth over a million dollars, according to latest ABS data. Picture: AAP Image/Richard Waugh.Latest data has found that Australia truly deserves the label ‘the Lucky Country’ with the average Aussie household now millionaires.New Australian Bureau of Statistics figures released Friday showed the average household wealth in the country was over a million dollars — thanks mostly to home values and superannuation balances. FOLLOW SOPHIE FOSTER ON TWITTER Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 read more

Tournament CEO Andrew Hill, chairman Dr George Peponis, OAM, and Queensland Minister for Education and Minister for Tourism, Major Events and the Commonwealth Games, Kate Jones, were on hand to launch the 28-game series that culminates with the final in Brisbane on Saturday, December 2.The 15th Rugby League World Cup, which was first played in France in 1954, will kick-off in Melbourne on Friday night with the clash of century-old rivals, England and Australia, coached by iconic Queensland league figures Wayne Bennett and Mal Meninga.The tournament will be contested by Australia, England, France, Lebanon (Pool A); New Zealand, Samoa, Tonga, Scotland (Pool B), Papua New Guinea, Wales, Ireland (Pool C), Fiji, Italy and United States (Pool D).The new international eligibility rules are expected to ensure RLWC2017 is the most competitive and most watched World Cup in history.Matches will be telecast by the Seven Network in Australia, Sky TV in New Zealand and EMTV in PNG.“The World Cup is huge for our game, we don’t have find memories of the last World Cup in Australia in 2008 so we want to turn that around,” Australian Captain Cameron Smith told the launch.It’s a celebration of our game and I think everyone who gets involved with this tournament and comes out and sees all the matches is going to be for a treat. There is going to be some great football played and there are some wonderful players on show throughout this tournament so I can’t wait.“All the guys are really looking forward to getting out there on Friday night, they are excited about this campaign.“I think a lot of the focus and a lot of the talk from Mal [Meninga] and from myself is going to be about playing a good game of footy on Friday night because if you get beaten in that first game you put yourself into a tricky position heading into quarter finals and semi-finals.”England captain Sean O’Loughlin said the English players were looking forward to playing in the tournament under master coach Wayne Bennett.“I think he just puts the boys under pressure to do the basic things well,” O’Loughlin said. He has a heap of experience and I think the boys are feeding off that.“From our point of view we want to get off to a good start but we also want to be building towards the knock out rounds and getting better week in and week out. “RLWC2017 chairman George Peponis said the World Cup would not only be the best ever but would leave a legacy for the game, with matches spread across Australia, New Zealand and in Papua New Guinea.“There has been plenty of hype around the eligibility rules which have shown that the Rugby League World Cup 2017 will be the most competitive world cup,” Peponis said.“I would like to thank all our corporate partners as well as our government partners. In particular I’d like to thank the Queensland Government for their support, with Brisbane set to host a semi-final and the final, which for the first time in history will feature the men’s and women’s World Cup finals.”Next weekend’s opening round matches are (local times):Friday, October 27: Australia v England, Melbourne Rectangular Stadium (8pm).Saturday October 28: PNG v Wales, Oil Search NFS, Port Moresby (3pm); New Zealand v Samoa, Mt Smart Stadium, Auckland (8.10pm); Fiji v USA; Townsville (7.40pm).Sunday, October 29: Ireland v Italy, Barlow Park, Cairns (2pm) and Scotland v Tonga (4pm) in a double-header; France v Lebanon, Canberra Stadium, Canberra (4pm). read more