Australia’s high-net-worth (HNW) population expanded significantly in 2025, driven by strong asset price growth and rising investment wealth.
HNW Australians are individuals with at least A$1 million in investable assets, excluding their primary residence, business interests, debt and most superannuation.
Growth occurred across every wealth segment, including emerging affluent (A$1-$A2.5 million), established affluent (A$2.5-$A5 million), advanced HNW (A$5-A$10 million), and ultra-high-net-worth (over A$10 million).
According to the LGT Wealth Management/Investment Trends 2025 State of Wealth Report, around 70,000 more Australians reached HNW status during the year, increasing the HNW population by 10 per cent.
Collectively, these investors controlled A$4 trillion in investable assets, an 18 per cent increase from A$3.39 trillion in 2024.
The report also found that wealthy Australians are increasingly focused on intergenerational wealth transfer. Nearly 59 per cent of HNW individuals had already provided or planned to provide an early inheritance by 2025, up from 52 per cent in 2023.
Separate findings highlighted by BMP Wealth show Australia’s HNW and sophisticated investor market continuing to grow, with an estimated 690,000 HNW individuals controlling approximately A$3.4 trillion in investable assets.
The research points to increasing demand for private market investments, including private equity, venture capital, and private debt.
Around 146,000 HNW investors already invest in private markets, while another 32,000 planned to enter the sector within the following year, reflecting a desire for greater diversification and potentially higher returns.
According to Knight Frank’s The Wealth Report 2025, Australia ranks among the world’s leading wealth hubs, placing ninth globally with 42,789 high-net-worth individuals (HNWIs) holding at least US$10 million in net assets, representing 1.8 per cent of the global US$10 million-plus population.
Investment trends
Australian HNW investors are also broadening their portfolios beyond traditional asset classes. Alongside equities, fixed income, and real estate, many are allocating capital to alternative investments such as hedge funds, infrastructure, commodities, structured products, managed funds, impact investing, cryptocurrencies, precious metals, art and collectibles, and structured notes.
Renewable energy, technology, healthcare, biotechnology, and Asia-Pacific investment opportunities have also emerged as key areas of interest, reflecting long-term growth themes and global diversification strategies.
Knight Frank found that family offices are increasingly involving younger generations in investment decisions, with 58 per cent actively engaging successors and 40 per cent reporting that their involvement has already influenced investment strategies.
Meanwhile, the report’s inaugural Next Generation Survey, which surveyed 1,788 wealthy individuals aged 18 to 35, revealed that real estate is the luxury asset they most aspire to own.
Conclusion on Australia’s high-net- worth (HNW)
Overall, the reports indicate that Australia’s wealthy investors are becoming more sophisticated, increasingly embracing private markets, alternative assets, and international investments while placing greater emphasis on long-term wealth preservation and succession planning.
