this post was submitted on 04 Oct 2023

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Property values are tipped to reach a new high. Here's how much prices have risen in each capital city - ABC News (www.abc.net.au)

submitted 1 year ago by Ijustdoeyes@aussie.zone to c/australia@aussie.zone

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[–] Wiggles@aussie.zone 4 points 1 year ago

Considering

Only 1% of Australian taxpayers own nearly a quarter of all property investments across the country, amid concerns over escalating rates of wealth concentration.

Data provided by the Australian Taxation Office has revealed the extent of that concentration, with more than 7% of property investors – or 215,321 people – accounting for 25% of all property investments.

That 7% also have three or more interests in investment properties across the country, with 1% of investors – or just 19,895 people – currently holding six or more investment interests.

And that is only the top 1% of tax payers (which is only 7% of investors), I can't imagine what percentage of property investment is owned by the top 10% of tax payers.

From: https://www.theguardian.com/australia-news/2023/jun/04/a-quarter-of-australias-property-investments-held-by-1-of-taxpayers-data-reveals