Wealth Exodus: Australians Flock to Property Investment Over Business
The proportion of working-age Australians who run a business which employs people fell from 13.8 percent in 2002 to just 9.8 percent in 2022, according to CEDA.
New data from CEDA shows a decline in Australians investing capital in businesses, with a notable decrease among the wealthy. Concurrently, there’s been an increase in property investment. The share of wealth tied to businesses has significantly dropped, while investment property ownership has risen across the board.
- Fewer Australians are investing capital in businesses.
- The drop in business investment is most pronounced among the wealthy.
- More wealth is flowing into property.
- The proportion of working-age Australians running employing businesses fell from 13.8% in 2002 to 9.8% in 2022.
- Ownership of at least one investment property increased by 8.1 percentage points over the same period.
- Among the wealthiest 20% of households, wealth tied to business fell from 11% in 2002 to 4.4% in 2022.
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