There were 43,500 new millionaires in Australia in 2014 thanks to the rising stock market and the booming property market, research from Investment Trends revealed on Monday.

Australia is home to 443,500 "high net worth" investors, those with investable assets of more than 1 million Australian dollars ( 780,000 U.S. dollars).

There are also 580,000 "emerging" high net worth Australians with more than 500,000 Australian dollars (390,000 U.S. dollars) in investable assets.

"If asset values continue to increase, then we can definitely also expect to see the growth in the number of high net worth investors in Australia continue," said Investment Trends senior analyst Recep Pekerat in a statement. Endi

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