A record 11.5 million Australian adults now hold investments outside their superannuation and primary home, highlighting a major shift in how households are building wealth as property affordability deteriorates.

The ASX Australian Investor Study 2026 found investors now account for 54% of the adult population, with an estimated 2.5 million Australians joining the market since 2020.

Another 950,000 non-investors expect to start investing within the next 12 months, suggesting participation could climb further.

Shares remain the most widely owned investment, followed by residential property, exchange-traded funds, term deposits and cryptocurrency.

ETF ownership doubles

Exchange-traded funds have emerged as one of the biggest growth areas,…