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Aussies $10K richer in just 3 months

08/02/2010

Australians have recovered from the hit to their wealth they took during the global financial crisis. The Reserve Bank of Australia’s quarterly statement on monetary policy said household wealth levels had risen to "be back around its peak in late 2007".

Households' net worth was $1.006 trillion at the end of September 2009, down from $1.235 trillion in 2007. A wealth recovery of $229 billion recovery in the last three months of 2009 to reach the 2007 peak is equal to $10,360 per Australian. Most of that gain came from real estate price rises.

Source: The Daily Telegraph



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