Signal Per capita household wealth grew in most countries but lagged GDP

Summary

MGI finds that household wealth per person rose in most countries in 2025, yet in most major economies it grew more slowly than GDP. The main reason was cooling real estate values, which were still retreating from their pandemic highs, and property is the biggest part of household wealth in many economies. There were notable exceptions: in the United States and Australia, which have the highest wealth per person, household wealth grew by at least 20 percentage points of GDP, with equities doing most of the work in the US. Japan also recorded double-digit gains relative to GDP, mostly because assets kept pace with rising inflation. By contrast, several eurozone countries saw per capita wealth fall in purchasing power terms, largely as property prices declined.