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According to the latest Australian National Accounts: Finance and Wealth update from the Australian Bureau of Statistics (ABS), total household wealth rose by 3.1 per cent, or $551.3 billion, over the quarter to reach $18.4 trillion.
According to the ABS data, growth was underpinned by gains across both non-financial and financial assets, with residential property accounting for more than half of the increase in net worth.
The value of residential land and dwellings increased by 2.7 per cent, or $303.7 billion, contributing 1.7 percentage points to overall household wealth growth.
Property prices rose alongside an increase in the number of dwellings, highlighting the continued resilience of the housing market and its outsized influence on household finances.
Non-financial assets owned by households rose 2.4 per cent, or $309.1 billion, largely reflecting higher housing values.
At the same time, household financial assets grew by 3.2 per cent, or $270.8 billion, supported by strong market conditions and higher superannuation balances.
Superannuation assets increased by 3.7 per cent, or $160.2 billion, while deposits rose 3.5 per cent, or $63.0 billion, driven in part by the seasonal timing of tax refunds.
Households also recorded a $38.3 billion rise in shares and other equity, benefiting from continued strength in both domestic and overseas sharemarkets.
Households relied heavily on lending during the September quarter, with a $67.5 billion net lending position. This reflected the acquisition of $97.6 billion in financial assets, partly offset by $30.1 billion in new liabilities.
Asset accumulation was driven by deposits and superannuation, while liabilities were mainly the result of increased borrowing.
Household liabilities rose by a modest 0.9 per cent or $28.6 billion. Long-term loans increased by $28.8 billion, while short-term loans edged down slightly.
Housing loans rose 1.9 per cent, or $47.8 billion, with both investor and owner-occupier activity contributing to growth, although this was partly offset by a reduction in student debt following a government write-down.
Indeed, the figures confirm that housing credit growth during the quarter was driven by increased investor lending. More broadly, Australia’s net borrowing position rose by $14.0 billion to $31.2 billion, while capital investment as a share of GDP increased to 24.5 per cent.
Overall, the ABS data shows that total demand for credit across the economy lifted to $155.6 billion in the September quarter, up $55.2 billion from the previous quarter.
General government and private non-financial businesses drove the increase, while households accounted for $30.1 billion of new borrowing.
Credit market outstandings rose by $286 billion, reflecting both new borrowing and revaluation gains, with business lending and equity investment playing a major role.
Dr Mish Tan, ABS head of finance statistics, said: “Rising house prices were the main driver of the growth in household wealth this quarter.
“House prices were up 2.2 per cent in the September quarter 2025, which is the strongest quarterly growth since December quarter 2023.
“Global and domestic share markets performed strongly for the second consecutive quarter, increasing household superannuation balances.
“The final superannuation guarantee increase occurred in the September quarter, also adding to superannuation balances.
“Household demand for credit was $30.1 billion this quarter. Growth in loan balances were partly offset by the Government reductions in student debt by 20 per cent.”
[Related: New mortgage lending surged 19% in September quarter: APRA]