The latest research into the Australian population has revealed non-migrant households have higher superannuation savings and investment balances than those of migrant households.
The 2010 AMP.NATSEM Income and Wealth Report revealed non-migrant households have $143,600 in total superannuation savings and investments, compared with a total of $124,600 for migrant households.
However, in terms of property-related assets, the study showed migrant households had the upper hand, holding $262,700 in this asset class in comparison to $250,800 held by non-migrants.
"The report suggests that this difference could be due to immigrants living in urban areas where property is more expensive," AMP Financial Services managing director Craig Meller said.
"Meanwhile, non-migrant households may have been able to accumulate superannuation and investments over a longer period of time," he said.
Overall, the research showed non-migrant households were around 5 per cent wealthier than migrant ones, with the average net worth of each adult being $387,200 for non-migrants versus $370,400 for those individuals of migrant origin.
This slight disadvantage could stem from the fact that migrants from non-main English speaking countries who are highly educated have not had their skill set fully utilised.
The research showed 38 per cent of migrants between the ages of 35 and 54 from a non-main English speaking country were in a low or medium-skilled job, compared to 20 per cent of migrants from a main English speaking country and 19 per cent of Australian-born tertiary-educated individuals within the same demographic group.
"Labour market barriers may be experienced by this group of well-educated migrants, possibly including difficulties in having their qualifications recognised, or competing with those with native English-speaking backgrounds," NATSEM author and research fellow Riyana Miranti said.
The report is the 27th of its kind to have been compiled.
