Wealth per person dips but remains high

The average Australian was worth $545,532 at the end of September, according to the latest data from the Australian Bureau of Statistics.

That figure was calculated by adding up all our assets (such as properties), subtracting all our liabilities (such as home loans) and dividing that figure by the number of people in Australia.

Although wealth per person has fallen a little from a record $576,264 in March, we are:

* Twice as wealthy as in 2013
* Three times as wealthy as in 2005
* Four times as wealthy as in 2003
* Five times as wealthy as in 2001
* Six times as wealthy as in 1998

Part of the reason we’ve become a lot wealthier is due to the long-term increase in property prices.