Household wealth was up 0.8 per cent, or $137.1 billion, in the March quarter 2025, according to figures released today by the Australian Bureau of Statistics (ABS).
Dr Mish Tan, ABS head of finance statistics, said: 'The growth in household wealth was driven by the continued rise in the value of residential land and dwellings during the quarter. This was up 1.2 per cent, or $125.3 billion, adding around 0.7 percentage points to the growth in household wealth.'
House prices were up 0.7 per cent in the March quarter 2025. While house prices have risen for eight consecutive quarters, through the year growth has slowed to 4.2 per cent from 8.0 per cent in March 2024.
While household borrowing grew 1.4 per cent (+$42.4 billion), reducing the overall growth in household wealth by 0.2 percentage points.
'The RBA's cash rate cut in February this year was the first easing of interest rates since November 2020, giving some relief to household budgets in the March quarter through lower mortgage interest payments. We expect to see the broader impact of recent cuts, including another in May, on house prices and credit growth later this year,' Dr Tan said.
Household deposits rose 1.7 per cent ($29.5 billion) in the March quarter, contributing 0.3 percentage points to the overall rise in household wealth.
Superannuation assets fell 0.4 per cent, or $16.4 billion, reducing the overall growth in household wealth by 0.1 percentage point. The fall was driven by slowing domestic and overseas equity markets.
'Household superannuation balances fell for the first time since the September quarter 2022 as global uncertainty weighed on share prices,' Dr Tan said.
| Wealth (Net worth) ($b) | Land and dwellings ($b) | Superannuation ($b) | Currency and deposits ($b) | Shares and equity ($b) | Other financial assets ($b) | Liabilities ($b) | |
|---|---|---|---|---|---|---|---|
| Mar-12 | 101.4 | 26.5 | 65.1 | 10.2 | 18.4 | -3.1 | -16.5 |
| Jun-12 | 146.1 | 28.3 | 123.0 | 9.1 | -4.3 | 13.6 | -23.9 |
| Sep-12 | 60.7 | -15.0 | 51.0 | 22.5 | 15.8 | -4.0 | -10.5 |
| Dec-12 | 179.1 | 105.9 | 58.3 | 12.6 | 14.6 | -2.5 | -14.5 |
| Mar-13 | 145.1 | 54.4 | 68.0 | 9.7 | 22.9 | 1.0 | -14.6 |
| Jun-13 | -1.6 | 78.6 | -52.5 | 6.4 | -3.0 | 1.3 | -36.2 |
| Sep-13 | 212.2 | 83.3 | 88.4 | 26.3 | 21.0 | -0.5 | -11.4 |
| Dec-13 | 235.0 | 173.2 | 53.3 | 20.4 | 8.7 | 7.9 | -37.8 |
| Mar-14 | 138.4 | 76.5 | 46.1 | 9.7 | 19.4 | -1.4 | -19.7 |
| Jun-14 | 116.8 | 94.9 | 26.2 | 7.0 | 15.3 | 4.1 | -38.0 |
| Sep-14 | 164.0 | 82.6 | 51.3 | 29.5 | 13.1 | -0.7 | -19.6 |
| Dec-14 | 261.6 | 169.2 | 59.6 | 25.5 | 24.6 | 1.9 | -30.3 |
| Mar-15 | 263.3 | 125.0 | 106.0 | 13.9 | 34.9 | 7.6 | -32.0 |
| Jun-15 | 201.9 | 224.7 | 12.3 | 6.4 | 0.1 | -5.0 | -42.4 |
| Sep-15 | 122.5 | 129.6 | -24.5 | 37.2 | 0.9 | -2.5 | -22.0 |
| Dec-15 | 150.4 | 46.6 | 76.4 | 19.6 | 30.4 | -2.7 | -25.8 |
| Mar-16 | -14.0 | 9.6 | -18.7 | 12.8 | 3.6 | 1.9 | -26.2 |
| Jun-16 | 281.9 | 137.3 | 149.0 | 10.6 | 16.2 | 8.1 | -41.9 |
| Sep-16 | 230.6 | 125.7 | 79.3 | 25.3 | 23.7 | 3.1 | -30.1 |
| Dec-16 | 335.8 | 258.0 | 48.6 | 24.9 | 22.8 | 0.4 | -26.4 |
| Mar-17 | 231.5 | 160.4 | 63.2 | 9.8 | 20.8 | 1.6 | -29.9 |
| Jun-17 | 154.5 | 170.0 | 16.7 | 1.4 | 4.2 | -0.5 | -41.2 |
| Sep-17 | 27.6 | 14.2 | -3.4 | 21.7 | 11.8 | 6.6 | -26.8 |
| Dec-17 | 286.0 | 167.9 | 95.7 | 13.5 | 26.4 | 9.3 | -33.1 |
| Mar-18 | -14.4 | 17.1 | -16.6 | 10.0 | 2.2 | 0.3 | -30.8 |
| Jun-18 | 87.4 | -26.3 | 107.9 | 1.5 | 21.9 | 11.8 | -31.2 |
| Sep-18 | 33.7 | -51.0 | 47.7 | 28.2 | 18.8 | 5.1 | -16.0 |
| Dec-18 | -206.2 | -60.9 | -111.3 | 9.5 | -7.5 | -9.0 | -31.0 |
| Mar-19 | 57.0 | -119.6 | 142.6 | 5.4 | 33.6 | 14.4 | -20.2 |
| Jun-19 | 318.0 | 68.5 | 220.6 | 4.3 | 27.8 | 13.1 | -15.3 |
| Sep-19 | 335.1 | 225.8 | 63.2 | 25.9 | 16.9 | 11.3 | -6.2 |
| Dec-19 | 288.0 | 218.7 | 62.1 | 12.9 | 13.0 | 2.3 | -23.8 |
| Mar-20 | -250.6 | 106.0 | -275.5 | 18.2 | -63.2 | -16.6 | -21.6 |
| Jun-20 | 232.1 | -23.5 | 166.6 | 35.1 | 32.3 | 25.5 | -6.3 |
| Sep-20 | 346.2 | 222.4 | 38.9 | 65.2 | 7.5 | 7.8 | -1.7 |
| Dec-20 | 633.7 | 376.7 | 163.8 | 27.5 | 54.0 | 18.6 | -21.0 |
| Mar-21 | 549.1 | 457.0 | 67.0 | 13.7 | 28.2 | -2.5 | -27.6 |
| Jun-21 | 567.6 | 428.5 | 118.3 | 5.9 | 35.0 | 19.2 | -53.5 |
| Sep-21 | 731.9 | 598.4 | 64.3 | 75.0 | 25.7 | 7.2 | -53.2 |
| Dec-21 | 725.9 | 585.8 | 99.9 | 47.7 | 20.8 | 8.3 | -56.9 |
| Mar-22 | 166.5 | 196.3 | -51.2 | 33.7 | 22.2 | -8.9 | -41.8 |
| Jun-22 | -391.3 | -36.4 | -293.9 | 6.2 | -22.0 | -8.0 | -49.6 |
| Sep-22 | -214.6 | -255.1 | -5.1 | 53.0 | 14.3 | -0.2 | -29.7 |
| Dec-22 | 241.8 | 73.4 | 122.5 | 33.8 | 35.4 | 6.0 | -42.2 |
| Mar-23 | 199.0 | 60.8 | 115.5 | 26.9 | 21.1 | 2.0 | -34.9 |
| Jun-23 | 351.9 | 312.2 | 63.0 | -6.6 | 17.1 | 6.6 | -45.3 |
| Sep-23 | 250.1 | 167.2 | 10.2 | 52.7 | 35.3 | 6.6 | -27.0 |
| Dec-23 | 535.9 | 313.8 | 147.5 | 30.8 | 52.5 | 13.7 | -34.2 |
| Mar-24 | 387.2 | 176.7 | 146.7 | 32.7 | 57.5 | 10.3 | -47.2 |
| Jun-24 | 258.8 | 261.9 | 10.1 | -8.4 | 26.4 | 17.2 | -57.2 |
| Sep-24 | 305.8 | 60.8 | 144.8 | 62.1 | 49.7 | 10.9 | -30.6 |
| Dec-24 | 307.0 | 186.3 | 64.3 | 58.5 | 30.4 | 2.1 | -47.7 |
| Mar-25 | 137.1 | 141.4 | -16.4 | 29.2 | 7.3 | 6.7 | -41.7 |
Total demand for credit was $136.1 billion, the highest since the June quarter 2022. This was driven by private non-financial businesses ($45.9 billion), national general government ($37.0b), and households ($35.9b).
'The March quarter saw the highest demand for credit by the Commonwealth government since the September quarter 2020. This was driven by the government issuing bonds ahead of future expenditure, after paying off $24.4 billion of debt in the December quarter,' Dr Tan said.
| Private non-financial businesses ($b) | Households ($b) | National general government ($b) | State and local general government ($b) | Other ($b) | |
|---|---|---|---|---|---|
| Mar-12 | 27.6 | 11.9 | 16.1 | 2.7 | 4.5 |
| Jun-12 | 16.0 | 22.8 | -0.6 | 11.3 | -0.4 |
| Sep-12 | 16.3 | 4.7 | 16.9 | 9.9 | 3.4 |
| Dec-12 | 14.8 | 15.9 | 14.0 | -2.0 | 6.5 |
| Mar-13 | 24.8 | 12.3 | 6.5 | 2.1 | 1.3 |
| Jun-13 | 37.4 | 28.8 | -8.8 | 2.6 | 5.0 |
| Sep-13 | 26.1 | 3.7 | 21.6 | 7.3 | -0.3 |
| Dec-13 | 38.6 | 32.5 | 18.3 | 4.2 | 9.4 |
| Mar-14 | 7.9 | 18.7 | 16.4 | 3.7 | 0.0 |
| Jun-14 | 32.3 | 36.1 | 6.7 | 0.2 | 8.7 |
| Sep-14 | 33.6 | 13.6 | 19.4 | 4.8 | -6.1 |
| Dec-14 | 35.4 | 26.8 | 9.8 | -0.9 | 3.1 |
| Mar-15 | 43.2 | 25.1 | 14.6 | 1.5 | 7.4 |
| Jun-15 | 27.0 | 39.3 | 5.8 | -0.4 | 11.8 |
| Sep-15 | 39.7 | 12.3 | 29.4 | 7.0 | 3.8 |
| Dec-15 | 33.4 | 23.2 | 4.6 | -2.5 | 7.9 |
| Mar-16 | 30.4 | 25.1 | 22.0 | 0.0 | 3.4 |
| Jun-16 | 11.1 | 34.7 | 4.2 | -1.8 | 2.7 |
| Sep-16 | 20.3 | 28.5 | 23.6 | 2.2 | 6.0 |
| Dec-16 | 56.5 | 20.7 | 23.1 | -4.2 | -7.6 |
| Mar-17 | 6.3 | 21.6 | 20.9 | -2.0 | 4.4 |
| Jun-17 | 38.0 | 40.6 | 17.5 | 2.0 | 1.2 |
| Sep-17 | 33.4 | 18.0 | 1.5 | 3.8 | 6.0 |
| Dec-17 | 30.9 | 27.7 | 13.7 | 2.0 | 5.2 |
| Mar-18 | 39.0 | 19.6 | 4.8 | 1.5 | 3.7 |
| Jun-18 | 14.0 | 27.5 | 10.1 | 0.1 | 2.9 |
| Sep-18 | 67.0 | 11.1 | 3.4 | 2.4 | 9.1 |
| Dec-18 | 8.8 | 25.7 | 2.1 | 4.0 | 3.0 |
| Mar-19 | 35.5 | 15.3 | -2.7 | 2.4 | 5.4 |
| Jun-19 | 38.8 | 4.0 | 7.5 | 4.8 | -3.6 |
| Sep-19 | 18.1 | -0.1 | 17.4 | 8.4 | 4.5 |
| Dec-19 | 21.0 | 19.3 | 6.1 | 9.6 | 6.0 |
| Mar-20 | 49.7 | 3.9 | 20.9 | 14.7 | 5.4 |
| Jun-20 | -7.2 | 14.6 | 106.5 | 29.7 | 9.4 |
| Sep-20 | 2.0 | 6.3 | 117.5 | 26.5 | 6.9 |
| Dec-20 | 4.5 | 22.5 | 10.4 | 19.8 | 10.4 |
| Mar-21 | 18.4 | 28.1 | 15.3 | 4.9 | 5.5 |
| Jun-21 | 11.9 | 49.6 | -0.4 | 7.2 | 18.5 |
| Sep-21 | 57.4 | 41.3 | 26.6 | 23.4 | 8.3 |
| Dec-21 | 34.1 | 53.8 | 14.4 | 7.6 | 15.5 |
| Mar-22 | 166.0 | 41.7 | 12.9 | 0.6 | 11.3 |
| Jun-22 | 45.1 | 52.6 | 26.6 | 22.0 | 15.5 |
| Sep-22 | 75.6 | 26.0 | -12.3 | 18.8 | 6.7 |
| Dec-22 | 13.4 | 31.9 | 0.1 | 7.3 | -0.2 |
| Mar-23 | 42.6 | 18.8 | 13.4 | 4.3 | 9.1 |
| Jun-23 | -4.1 | 41.8 | -17.7 | 10.2 | 3.3 |
| Sep-23 | 52.1 | 13.4 | 10.1 | 8.4 | 9.0 |
| Dec-23 | 29.8 | 29.8 | 16.5 | 16.4 | 7.7 |
| Mar-24 | 46.0 | 31.7 | 8.8 | 11.0 | 9.7 |
| Jun-24 | 38.0 | 56.0 | -19.2 | 17.1 | 6.2 |
| Sep-24 | 44.6 | 24.7 | 26.2 | 17.4 | 4.6 |
| Dec-24 | 48.7 | 39.7 | -23.6 | 19.3 | 12.6 |
| Mar-25 | 45.9 | 35.9 | 37.0 | 8.5 | 8.8 |
- "Other" includes private non-financial investment funds and public non-financial corporations.
