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Aussies like their shares

SHARES are growing in popularity in Australia and more than 600,000 Australians - most of them middle-income earners - had bought into the local share market in the past 12 months, according to an Australian Stock Exchange share ownership study.

To date, 55 per cent of adults - about 8 million people - count shares among their assets. That's a rise of four percentage points in a year - ahead of the Americans and Swedes.

"We believe we have one of the highest share ownership levels in the world... it's certainly at the top of the tree," ASX deputy chief executive officer Colin Scully said.

Some 3.5 million people have shares invested under their own names.

The ASX ninth annual study found investors typically are male, have a post-graduate education, are aged 55 or older and have incomes above $100,000, with an average investment of $41,000.

However, the past 12 months have witnessed the greatest growth in investment from people with non-tertiary qualifications and annual incomes of between $30,000 and $50,000, as well as greater numbers of new entrants aged 18-24.

Male and female investor numbers grew - to 50 per cent of adult men and 40 per cent of adult women - and ownership increased steadily across all States and territories.

Mr Scully said bullish market activity had inspired confidence, and the property slowdown had shifted people's investment preferences.