Superannuation is trending to become the average Australian's biggest asset in just over ten years... Melbourne continues 'surprising' growth cycle...
Super to surpass family home as biggest asset by 2029
Superannuation is set to become the greatest asset for most Australians by 2029, even more than the fmaily home, according to the Australian Financial Review.
Average super balances have grown by 56% and home wealth by 27% in the last 10 years, figures from the Household, Income and Labour Dynamics in Australia (HILDA) survey show.
HILDA deputy director (research) Roger Wilkins told the AFR he expects the trend will continue.
"I would expect house price growth to be lower than has been sustained since 2002 and therefore think superannuation will overtake the family home sooner than 2029," Professor Wilkins said.
Melbourne continues 'surprising' growth cycle
While it may not have recorded the same level of growth seen in the city over recent years, the June quarter was still a solid one for house prices in Melbourne.
Analysis of the quarter by the Real Estate Institute of Victoria (REIV) claims the median house price in the Victorian capital city grew 3.6% to $725,000 in the three months to June.
Geoff White, REIV chief executive officer, said the quarter proves Melbourne to be the nation’s most resilient property market and though growth may have slowed somewhat conditions are still positive.
“Just over a year ago we were seeing quarterly price growth just above 5%,” White said.
“While growth is now below 4%, it is still solid, given market conditions,” he said.
(Your Investment Property)
Superannuation is set to become the greatest asset for most Australians by 2029, even more than the fmaily home, according to the Australian Financial Review.
Average super balances have grown by 56% and home wealth by 27% in the last 10 years, figures from the Household, Income and Labour Dynamics in Australia (HILDA) survey show.
HILDA deputy director (research) Roger Wilkins told the AFR he expects the trend will continue.
"I would expect house price growth to be lower than has been sustained since 2002 and therefore think superannuation will overtake the family home sooner than 2029," Professor Wilkins said.
Melbourne continues 'surprising' growth cycle
While it may not have recorded the same level of growth seen in the city over recent years, the June quarter was still a solid one for house prices in Melbourne.
Analysis of the quarter by the Real Estate Institute of Victoria (REIV) claims the median house price in the Victorian capital city grew 3.6% to $725,000 in the three months to June.
Geoff White, REIV chief executive officer, said the quarter proves Melbourne to be the nation’s most resilient property market and though growth may have slowed somewhat conditions are still positive.
“Just over a year ago we were seeing quarterly price growth just above 5%,” White said.
“While growth is now below 4%, it is still solid, given market conditions,” he said.
(Your Investment Property)
