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Property Assets Drive Average Household Net Worth in Queensland

By Adrienne McTavish

Buyers looking at houses for sale in Bulimba may be interested to hear that most Queensland households' assets were held in their property during 2011-12, according to new research from the Australian Bureau of Statistics (ABS).

In this time period, the average household net worth in Queensland was $663,600, although the average in the capital city was slightly higher at $705,300 compared to $630,000 in the rest of the state.

In addition to this, the research revealed that most Queensland households' assets were held in property, worth an average of $443,900. This was followed by superannuation assets at $127,000.

"Owner occupied homes were the largest asset held by Australians and the mortgages on owner occupied property was also the largest liability," ABS Director of the Living Conditions section Caroline Daley said in an August 21 statement.

"Over two-thirds of Australian households own their own home outright or with a mortgage."

If you're seeking your own dream property in Bulimba, Hawthorne or Morningside, contact the team at Ray White Bulimba.

With years of local knowledge and experience in the area,  they can help you find the new home you've been looking for.

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