BRIGHT FUTURE: New parents Blake and Sarah Thomasson.
BRIGHT FUTURE: New parents Blake and Sarah Thomasson.

Are you worth $305,000?



THEY might not be worth $305,000 each, but Rockhampton's Blake and Sarah Thomasson are on the right path.

New figures show the average Aussie's net wealth is now a lofty $305,000. ? The Thomassons took the first step to securing their financial future on the weekend by signing a contract to buy a Depot Hill home for $130,000.

"It's very exciting and stressful. We want to fix it up and make a bit of money,'' Sarah said yesterday with her fiveweek-old son, Owen, nearby.

"It's our way of getting ahead.''

Treasury figures released yesterday show Australians have never been better off with the average person's net worth at $305,000.

Home ownership made up the lion's share of private wealth, with the other major influence being the rise in stockmarket prices over the past two years.

For Blake and Sarah, both 23, the time is right to get out of the rental game and into home ownership.

"That ($300,000) is a lot of money,'' Mrs Thomasson said.

"There's no way we would have that wealth .?.?. (but savings) are what we are working towards. We are delighted and feel very lucky to get this home.

"House prices are rising and we have been thinking about buying (for some time).'' Rockhampton financial planner Sue Ohl, of Kenna's Financial Services, said she was not surprised by the increase in net worth. Mrs Ohl said many Australians desired their own home.

The Treasury study found Australians have more money tied up in home ownership now than they did in the past.

Forty years ago, when every Australian was worth $8600, about one-third of net wealth was in houses.

Twenty years ago, the figure had grown to $56,500 per person, almost half of which was locked up in bricks and mortar.

The country's private wealth rocketed to more than $6200 billion in June last year, up almost 12% on the previous year.



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