Owning shares is less and less a feature of middle Australia’s life.
Australians have steadily walked away from the share market in the past 12 years with participation rates now the lowest since 2000.
Overall share ownership fell to 38 per cent, or 6.68 million adult participants, at the end of last year according to a new study from the Australian Securities Exchange.
But shares still remain the favoured investment with the survey revealing 34 per cent of the population hold a direct investment in the share market.
Residential investment property takes the second prize for favoured investments with 22 per cent of the population investing into the sector at the end of last year.
The study also showed 12 per cent of Australians favour investing in a managed fund that is not part of a superannuation fund, 4 per cent in commercial property, 3 per cent in other listed funds and 2 per cent in derivatives.