Bulletin – April 2004 The Composition and Distribution of Household Assets and Liabilities: Evidence from the 2002 HILDA Survey

Table A.1: Household Balance Sheet $'000
Household
characteristic		 Net
wealth		 Financial
assets		 Non-financial
assets		 Debt
Mean Median Mean Median Mean Median Mean Median
All households 404.3 218.5   149.2 49.6   323.6 204.5   68.5 10.0
Percentile of income
Less than 20 217.4 109.0   57.9 8.0   174.8 96.0   15.3 0.0
20–39.9 260.5 122.5   88.8 21.4   199.2 119.5   27.6 1.0
40–59.9 316.5 179.6   113.1 38.9   257.1 180.0   53.7 15.2
60–79.9 451.4 287.0   172.9 76.5   371.4 260.0   93.0 46.0
80–100 776.1 527.0   313.4 165.7   615.7 416.0   153.0 90.0
Age of reference person (years)
16–34 173.5 56.0   60.0 21.5   179.1 40.0   65.6 16.0
35–44 361.9 211.4   121.7 52.2   348.7 230.0   108.6 58.0
45–54 546.6 374.0   211.5 102.5   425.4 290.0   90.3 34.4
55–64 701.9 448.0   281.0 111.0   475.2 297.0   54.3 0.5
65–74 504.5 308.4   184.9 60.0   326.4 221.0   6.8 0.0
75 or more 330.3 230.5   107.8 27.3   226.3 163.0   3.8 0.0
Education
University
degree		 573.5 340.5   241.1 93.4   442.5 310.0   110.1 41.0
Diploma 394.5 240.6   140.0 51.0   322.5 215.0   68.1 13.0
Finished yr 12 357.2 176.7   133.2 39.3   289.5 170.0   65.5 12.9
Finished yr 11 311.2 159.4   100.6 24.2   250.9 147.5   40.3 0.1
Current work status
Employee 413.7 226.3   160.4 61.5   343.0 228.5   89.7 35.2
Self-employed 615.7 371.0   171.4 58.5   559.1 350.0   114.8 40.2
Retired 415.7 257.0   154.1 35.5   272.2 188.0   10.7 0.0
Other not
working		 200.0 32.4   65.7 5.0   169.3 14.0   35.0 1.2
State
NSW 478.6 265.6   152.2 52.0   402.4 262.0   76.0 6.5
VIC 438.6 268.5   167.2 55.1   336.8 236.0   65.5 10.0
QLD 297.5 173.0   132.8 40.5   225.7 165.0   61.0 15.0
SA 298.1 153.1   122.2 31.5   222.5 144.0   46.7 8.0
WA 382.1 183.5   130.4 43.1   335.9 190.0   84.2 15.0
Others 372.8 174.1   187.0 56.0   251.8 145.0   66.0 13.0
Housing status
Home owners 546.2 354.5   191.4 77.5   445.7 303.0   90.9 34.0
Renters 105.2 18.6   60.3 13.7   66.0 7.0   21.2 2.3
Percentile of net worth
Less than 20 4.5 4.2   8.5 3.7   16.1 3.0   20.2 2.0
20–39.9 84.7 83.0   36.9 29.7   101.6 91.0   53.8 15.0
40–59.9 222.4 219.0   65.0 50.6   226.2 212.0   68.8 25.0
60–79.9 434.4 428.8   144.3 114.1   368.9 343.0   78.8 16.0
80–100 1276.6 935.0   491.6 373.3   906.1 668.0   121.1 24.5
Table A.2: Household Gearing Ratio of debt to asset; per cent
Household
characteristic		 All households Households with type of debt
Total
gearing		 Property
gearing		 Gearing
on all
property		 Gearing
on own
home		 Gearing
on other
property
Aggregate Median Aggregate Median Median Median Median
All households 14.5 7.8   20.1 6.5   39.1   40.0   55.6
Percentile of income
Less than 20 6.6 0.0   5.6 0.0   30.9   28.6   40.0
20–39.9 9.6 1.0   12.4 0.0   40.6   41.2   54.2
40–59.9 14.5 13.6   20.0 13.2   43.8   45.5   57.1
60–79.9 17.1 16.5   24.4 23.1   39.3   41.9   53.3
80–100 16.5 15.8   24.4 22.2   35.6   40.0   57.7
Age of reference person (years)
16–34 27.5 29.0   37.4 45.9   57.5   57.8   65.0
35–44 23.0 21.5   31.3 33.9   41.6   42.5   61.1
45–54 14.2 10.3   19.5 13.3   30.2   32.0   50.0
55–64 7.2 0.2   9.9 0.0   23.0   25.0   40.0
65–74 1.3 0.0   1.2 0.0   21.2   23.5   –
75 or more 1.1 0.0   1.1 0.0   4.7   3.7   –
Education
University degree 16.1 16.3   23.1 20.0   35.6   38.8   57.7
Diploma 14.7 9.3   20.3 10.8   40.3   42.3   53.2
Finished yr 12 15.5 13.6   22.5 15.8   40.0   40.7   68.6
Finished yr 11 11.5 0.1   14.7 0.0   38.5   40.0   57.1
Current work status
Employee 17.8 17.5   26.0 25.0   40.0   42.2   57.1
Self-employed 15.7 12.2   19.0 11.4   33.3   37.3   56.4
Retired 2.5 0.0   2.5 0.0   20.0   23.5   33.7
Other not working 14.9 2.7   18.0 1.7   39.1   40.0   40.0
State
NSW 13.7 4.1   18.0 1.6   35.7   38.5   57.8
VIC 13.0 6.6   18.2 2.8   35.3   36.4   50.0
QLD 17.0 13.0   25.5 17.6   45.1   45.7   60.1
SA 13.6 8.9   18.7 5.2   42.5   46.0   45.0
WA 18.1 11.5   24.9 15.7   45.2   48.8   54.2
Others 15.0 8.7   26.4 13.3   41.5   42.9   66.7
Housing status
Home owners 14.3 7.3   19.4 5.3   37.8   40.0   54.2
Renters 16.7 8.9   40.2 40.8   58.9   na   58.9
Percentile of net worth
Less than 20 81.7 27.2   97.9 85.0   88.2   88.9   84.4
20–39.9 38.9 19.3   53.2 52.0   63.3   63.3   68.6
40–59.9 23.5 10.2   29.2 12.0   42.1   42.5   59.0
60–79.9 15.4 3.7   19.8 0.0   28.6   28.6   55.6
80–100 8.7 2.1   12.0 0.0   21.3   23.2   48.9
Table A.3: Household Holdings of Financial Assets, by Type of Asset
Household
characteristic		 Equity investments* Cash
investments*		 Trusts Deposits Life
insurance		 Superannuation Household
characteristic		 Equity
investments*		 Cash
investments*		 Trusts Deposits Life
insurance		 Superannuation
Per cent of households holding asset Median value of holdings for households holding asset ($'000)
* Equity investments include shares, managed funds and property trusts. Cash investments include government bonds, corporate bonds, debentures, certificates of deposit and mortgage-backed securities.
All households 41 3 4 97 11 76   All households 15 25 15 5 15 35
Percentile of income   Percentile of income
Less than 20 22 3 1 95 5 34   Less than 20 14 18 10 3 12 8
20–39.9 34 4 3 96 7 70   20–39.9 15 23 13 3 11 12
40–59.9 39 4 4 96 10 89   40–59.9 10 20 8 4 12 23
60–79.9 49 3 4 98 13 94   60–79.9 11 30 18 6 13 45
80–100 63 3 9 99 20 96   80–100 20 40 34 9 20 94
Age of reference person (years)   Age of reference person (years)
16–34 29 1 4 95 7 88   16–34 7 5 6 2 14 14
35–44 42 2 5 98 12 91   35–44 10 20 10 3 10 35
45–54 49 3 6 97 16 89   45–54 14 23 25 6 17 71
55–64 53 6 5 97 14 75   55–64 30 45 60 9 19 101
65–74 48 8 2 99 8 35   65–74 48 32 22 10 20 100
75 or more 34 8 – 99 9 13   75 or more 30 40 – 13 10 50
Current work status   Current work status
Employee 45 2 5 97 13 97   Employee 10 20 15 5 14 35
Self-employed 46 4 6 98 15 79   Self-employed 15 20 10 8 20 35
Retired 39 7 2 98 8 30   Retired 34 40 50 10 12 95
Other
not working		 21 2 2 91 4 52   Other
not working		 15 30 14 1 12 8
Housing status   Housing status
Home owners 50 4 5 98 14 79   Home owners 15 30 15 7 16 54
Renters 22 1 2 95 6 72   Renters 8 13 8 2 10 12
Percentile of net worth   Percentile of net worth
Less than 20 9 – – 93 2 61   Less than 20 3 – – 1 4 5
20–39.9 27 1 2 97 6 77   20–39.9 6 10 3 3 10 22
40–59.9 40 2 2 97 9 73   40–59.9 6 19 13 5 10 35
60–79.9 54 5 3 98 15 83   60–79.9 13 22 6 9 20 69
80–100 78 8 12 99 24 89   80–100 50 45 50 21 20 199
Table A.4: Household Holdings of Non-financial Assets, by Type of Asset
Household
characteristic		 Primary
residence		 Other
residential
property		 Business
assets		 Vehicles Collectibles Household
characteristic		 Primary
residence		 Other
residential
property		 Business
assets		 Vehicles Collectibles
Per cent of households holding the asset Median value of holdings for households holding asset ($'000)
All households 68 17 13 88 14   All households 250 200 80 15 10
Percentile of income   Percentile of income
Less than 20 56 7 4 69 12   Less than 20 180 110 85 7 6
20–39.9 57 10 8 86 13   20–39.9 200 150 70 10 6
40–59.9 66 13 13 93 14   40–59.9 220 165 50 13 7
60–79.9 76 20 15 95 15   60–79.9 250 200 55 18 10
80–100 85 33 25 96 18   80–100 330 260 125 25 12
Age of reference person (years)   Age of reference person (years)
16–34 42 10 10 85 12   16–34 230 180 50 12 6
35–44 69 19 17 92 13   35–44 250 180 70 15 9
45–54 80 23 19 93 16   45–54 260 200 120 18 10
55–64 82 25 16 91 18   55–64 265 250 100 16 10
65–74 84 14 6 87 17   65–74 230 150 80 12 8
75 or more 78 7 – 65 15   75 or more 200 180 – 8 7
Current work status   Current work status
Employee 68 19 13 93 15   Employee 255 200 80 16 10
Self-employed 74 26 56 95 19   Self-employed 265 210 90 20 12
Retired 79 10 2 79 14   Retired 200 170 75 11 7
Other not working 42 8 5 74 10   Other not working 200 168 40 7 5
Housing status   Housing status
Home owners 100 20 16 93 16   Home owners 250 200 100 17 10
Renters na 10 8 77 12   Renters na 160 50 9 5
Percentile of net worth   Percentile of net worth
Less than 20 5 2 2 70 8   Less than 20 80 120 10 5 3
20–39.9 56 7 7 89 12   20–39.9 120 98 30 11 5
40–59.9 89 13 10 92 15   40–59.9 200 125 40 15 8
60–79.9 94 20 16 93 15   60–79.9 300 160 60 19 10
80–100 95 42 31 96 21   80–100 400 300 255 25 15
Table A.5: Household Holdings of Debt, by Type of Debt
Household
characteristic		 Home
loan		 Investor
property
loan		 Business
debt		 Credit
card
debt		 HECS* Other
personal
debt		 Any
debt		 Household
characteristic		 Home
loan		 Investor
property
loan		 Business
debt		 Credit
card
debt		 HECS* Other
personal
debt		 Any
debt
Per cent of households holding debt Median value of holdings for households holding debt ($'000)
* HECS debts of older households are usually due to (younger) dependants living in the same household.
All households 34 8 5 30 13 30 66   All households 90 113 50 2 8 9 50
Percentile of income   Percentile of income
Less than 20 9 2 3 16 8 12 35   Less than 20 51 50 31 1 8 3 8
20–39.9 20 4 3 24 11 24 55   20–39.9 65 64 60 2 8 5 16
40–59.9 35 7 5 35 13 35 73   40–59.9 81 100 27 2 7 8 39
60–79.9 50 10 6 38 14 39 83   60–79.9 98 113 50 2 7 10 72
80–100 56 17 10 35 17 40 86   80–100 120 140 60 3 8 18 114
Age of reference person (years)   Age of reference person (years)
16–34 33 6 3 33 25 44 79   16–34 110 127 40 2 8 8 33
35–44 54 12 8 39 10 36 84   35–44 99 119 57 2 4 10 80
45–54 48 11 7 34 13 34 80   45–54 80 100 50 2 9 11 60
55–64 22 9 5 24 6 19 53   55–64 60 110 50 2 8 11 35
65–74 5 – – 12 – 5 21   65–74 43 – – 1 – 5 4
75 or more 3 – – 8 – – 12   75 or more 15 – – 1 – – 3
Current work status   Current work status
Employee 46 10 5 37 17 39 82   Employee 97 120 50 2 8 10 64
Self-employed 37 14 26 36 12 37 77   Self-employed 88 90 50 3 7 15 80
Retired 7 1 – 13 – 6 24   Retired 33 120 – 1 – 5 5
Other
not working		 20 4 – 21 14 22 57   Other
not working		 80 90 – 2 7 4 13
Housing status   Housing status
Home owners 50 8 6 28 10 27 68   Home owners 90 120 50 2 8 12 87
Renters na 7 3 32 18 38 62   Renters na 100 20 2 8 8 11
Percentile of net worth   Percentile of net worth
Less than 20 5 2 2 28 22 38 61   Less than 20 85 90 20 2 9 7 10
20–39.9 40 5 3 41 14 38 73   20–39.9 89 100 14 2 7 8 50
40–59.9 48 6 4 32 9 27 68   40–59.9 90 88 30 2 7 10 78
60–79.9 44 10 6 27 8 25 66   60–79.9 90 124 52 2 8 11 79
80–100 35 17 11 20 11 23 64   80–100 100 140 90 2 8 22 101