Net worth

Living standards

Net worth

The value of net worth shows our stored financial resources at a point in time; it can be used to support consumptions levels and maintain living standards. Higher net worth is likely to offer better resilience against financial uncertainties. Net worth refers to economic resources in the form of assets and liabilities and is the value of how much a household owns after subtracting how much it owes.

Net worth

This measure shows household wealth in the ACT. This is calculated as the value of all the assets owned by a household minus what is owed. This 'net worth’ influences personal wellbeing because higher levels of net worth provide greater financial security.

Average household net worth in the ACT was $1.116 million in 2019-20 (the latest year for which relevant data are available). This compares with $1.042 million for Australia.

The ACT had the third highest net worth, behind greater Melbourne and greater Sydney, reflecting their higher property values.

Over time, the average household net worth in the ACT has increased.

ABS Household Income and Wealth, Australia (previously ABS Cat no. 6523.0), Table 13.3.

Bar chart of household net worth in the ACT, in financial years 2017-18 and 2019-20. In 2019-20 household net worth was $1.116 million compared to $1.037 million in 2017-18.

The ABS determined these results from the Survey of Income and Housing 2019-20.