Australia’s Wealthiest Family Relies on Property

The wealth of the richest family in Australia sits at $2.767 billion and has been heavily invested in what has been the most in demand investment of late – property. Melbourne’s Smorgon family has topped the recent BRW Rich Families list for investments in property, cosmetics, horticulture and equities.

24% of the collective wealth of the 50 richest families in Australia also lies in property, second to investments at 28%. Sydney has the most number of families on the list with 20, while Melbourne comprises the biggest share of wealth on the list at 42%.

The full BRW Rich Families list can be found here.

Read more about this on the Property Observer website.

Author: Dorian Traill

Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.

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