Provided by ASX
Forty years ago, in 1986, ASX asked Australians how they invest. We’re still asking — and our newly released ASX Australian Investor Study 2026 is the 18th chapter in that story.
The 2026 Study confirms continued growth in Australian investor numbers. Beyond a snapshot of current trends, it offers a window into everyday Australians’ financial lives and a unique perspective on our ‘nation of investors’.
Australia’s investors reach a record high
Australia’s investment market reached a significant milestone in 2026, with 11.5 million adults investing outside their superannuation and primary residence, representing 54% of the adult population. This is the highest participation level recorded in the study’s 40-year history and an increase from 51% in 2023 and 46% in 2020. Since 2020, approximately 2.5 million additional Australians have entered the investment market.
Growth has also been evident in listed investments. The number of Australians holding on-exchange investments has risen to 8.3 million, with on-exchange participation reaching 39% of adults, the highest level since 2010.
Despite this growth, almost 9.9 million Australians still do not invest outside superannuation and the family home, highlighting the potential to expand participation.
A younger and more diverse investor base
The average Australian investor is now 46 and the non-investors average is 51.
The gender gap is also narrowing. Women now represent 43% of all investors and 41% of on-exchange investors, up from 38% in 2023. This translates to almost five million women investing outside superannuation and the family home. Nevertheless, women still account for 63% of non-investors, indicating significant room for further growth in female participation.
Income levels among investors have also increased. The average investor income rose to $122,000, compared with $107,000 in both 2023 and 2020. Importantly, investing is no longer confined to high-income earners, with substantial participation across lower and middle-income brackets.
Portfolios are becoming more diversified
Australian-listed shares remain the foundation of most portfolios, held by 48% of investors, but investor portfolios are becoming broader and more diversified. The standout growth story is exchange-traded funds (ETFs), now held by 24% of investors, representing approximately 2.82 million Australians. ETF ownership has more than doubled since 2020.
The typical investor portfolio remains substantial, with a median value of $130,000, while on-exchange investors have a median portfolio of $140,000. More than half of investors also believe their portfolios are adequately diversified, an increase from 44% in 2023 to 51% in 2026.
Investors are prioritising income and stability
The study suggests that investors are becoming more conservative in response to ongoing economic uncertainty.
Building a sustainable income stream is now the leading investment goal, nominated by 31% of investors, ahead of capital growth. Protecting against inflation has also emerged as a significant priority, ranking alongside diversification and protecting against market falls.
Risk appetite has moderated. Nearly three-quarters of investors (73%) now prefer guaranteed or stable, reliable returns, up from 67% in 2023. At the same time, trading activity has eased. The median number of annual trades fell from 12 to nine, while the median trade value declined from $5,500 to $4,800.
These results suggest investors remain engaged but are taking a more measured approach to managing their wealth.
Trust, information and technology are reshaping behaviour
One of the study’s most interesting findings is the growing importance of information quality. The leading challenge facing investors is knowing which information sources to trust, cited by 29% of respondents.
Family and friends remain the leading source of investment information, preferred by 41% of investors, ahead of online broker websites and traditional media. Video and podcast consumption is also rising, with podcast usage almost doubling since 2023.
Demand for financial advice is strengthening
37% of all investors intend to seek financial advice within the next 12 months, up from 32% in 2023. This trend is being led by next generation investors, who are more likely than wealth accumulators and pre-retirees to seek financial advice.
In addition to this, investors are also prepared to pay more to receive it– the median amount that investors are willing to pay per year for financial advice rose to $900, up 50% from the figure of $600 in 2023.
Overall, the 2026 investing landscape is larger, younger and more diverse than ever. Australians are embracing more investment products, greater diversification and new information channels and technologies. While traditional shares remain central, the rise of ETFs, digital engagement and demand for financial advice marks a significant evolution in how Australians build wealth and participate in capital markets.
The ASX Australian Investor Study 2026 is available now at asx.com.au/australian-investor-study
