A new global wealth report has revealed a growing divide in Australia, whereඇ overall personal wealth is rising but the benefits are unevenly shared.

While average wealth has increased, the median wealth of ordinary Australians has fallen, showing that middle-income households are actually going backwards.

At the same time, a surge in high-net-worth individuals has pushed Australia to record levels of millionaires and billionaires.

Experts say rising property prices and investment gains are driving most of the wealth into the hands of the already wealthy.

Economists warn that this imbalance is deepening inequality and making it harder for younger Australians to build financial security.

The findings highlight a widening wealth gap that is reshaping Australia’s economic future, despite headline figures suggesting overall prosperity.