Australia’s highest earners no longer reside in Sydney’s Eastern Suburbs or within Inner Melbourne, but in Western Australia, according to the results of the latest census.
ABS figures show the postcode with the highest median personal income in the country is 6710, which includes the towns Cane, Onslow and Peedamulla, where annual median personal income is in the range of $104,000.
In contrast, New South Wales’ highest earners live under the postcode 2061, covering Kirribilli and Milsons Point, where the median income among residents is roughly $68,000 a year.
Victoria's leading postcode by median personal income was 3002, incorporating East Melbourne, where residents had annual earnings of $60,500.
CommSec chief economist Craig James said the results show the changing spread of Australia’s wealth. “Before the mining boom it was a fairly easy exercise to determine the regions with the highest incomes,” he said. “The high income areas were generally found in northern or eastern Sydney and the inner suburbs of Melbourne. But now Western Australia dominates the regions of highest median personal income. Overall, the top 13 regions for highest median personal income are in Western Australia.”
Do you have more than $200k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out