Bellevue Hill, Sydney In the centre of Sydney's east, some of Sydney's most awe-inspiring properties are nestled within Bellevue Hill's green hills. It takes out the title as the most expensive suburb in Australia, and for good reason. A meander through the suburb's spectacular streets says it all.
When it comes to houses, the most expensive suburb to buy into is the leafy and upmarket suburb of Vaucluse in Greater Sydney, with an eyewatering median house price of $7,943,965. The most expensive suburb to buy units is also in NSW, in Point Piper at $2,895,563.
Of the top 10 richest postcodes, 1 is located in Western Australia, 1 is located in Victoria and the remaining 8 are all located in some of the most exclusive spots across Sydney. At the top of the list is Western Australia's 6011 postcode, which comprises Cottesloe and Peppermint Grove.
New South Wales: a diverse economy and high income
Among all the states and territories in Australia, New South Wales is considered the richest state. It has the largest economy, a diverse range of industries, and a higher-than-average income, which contribute to its status as the wealthiest state.
Mungallala Methodist Church was built in 1964. It has now closed. In 2016, the Australian Taxation Office listed Mungallala as having the lowest mean taxable income by postcode, making it the poorest town in Australia, which led the ABC to do a documentary on the town for their online "storyhunters" program.
With 126,900 millionaires, Sydney made it to number 10 with the report noting especially strong growth in wealth in the Harbour City over the past 20 years, making it Australia's wealthiest city. It's also predicted to reach the top 5 wealthiest cities in the world by 2040.
The 10 most disadvantaged LGAs in order are: Woorabinda (Queensland), Cherbourg (Qld), Belyuen (NT), West Daly (NT), Yarrabah (Qld), Kowanyama (Qld), Wujal Wujal (Qld), East Arnhem (NT), Doomadgee (Qld) and Central Desert (NT).
Wolseley Road in Point Piper is Sydney's most expensive street, attracting Australia's wealthiest residents with its luxurious properties and waterfront views.
New York City came in at no. 1 on the list. The report found that from 2012 to 2022, the city had a 40% growth in its population of high-net-worth individuals. According to Henley & Partner's report, NYC is home to 340,000 individuals worth over $1 million, 724 centi-millionaires, and 58 billionaires.
Hobart the least affordable city in Australia for renters, putting average income households into rental stress and hurting pensioners and young people.
Domain's Rent Report for the December 2022 quarter reveals Canberra remains the country's most expensive city to rent a house at the median rate of $690-per-week.
Australia's top 10 cheapest suburbs 2022
Andamooka in South Australia takes the title of Australia's cheapest suburb, with a median house price of just $20,000. Western Australia and New South Wales both have three suburbs respectively in the top 10, while Queensland and South Australia have an equal two each.
Over on Sydney's lower north shore, Hunters Hill and Woolwich are situated on a small peninsula that separates the Lane Cove and Parramatta Rivers. Aside from some of Sydney's richest, the area is also home to a number of heritage buildings and impressive houses.
Atlassian's Scott Farquhar now owns the most expensive house in Australia and therefore the richest house as well.
Australian Financial Review's annual rich list. Mining magnate Gina Rinehart has once again been crowned Australia's richest person, as a boom in iron ore prices lifted her personal net wealth to $34 billion.
The person who holds the most land in this pastoral-lease data, by far, is the Western Australian mining magnate Gina Rinehart, who controls 9.2m hectares, or 1.2% of Australia's landmass, through three different corporate entities. The biggest corporate landholder is the ASX-listed Australian Agricultural Company.
WA also came in as the least happy, with 22 per cent of respondents saying they had been "unhappy" or "very unhappy" in the past 12 months. NSW came in second (21 per cent), followed by Victoria and Queensland (20 per cent) and South Australia 13 per cent.
SEIFA summarises geographical areas on relative advantage or disadvantage. Woorabinda and Cherbourg have been ranked the most disadvantaged LGAs in Australia. Woollahra in Sydney's eastern suburbs is the nation's most advantaged area.
Cooladdi is a rural locality in the Shire of Murweh, Queensland, Australia. The town is 88.9 kilometres (55.2 mi) south-west of Charleville. Claims have been made that Cooladdi is Australia's smallest town by population.
THE LIST. Australia's richest person, Gina Rinehart, is the daughter of iron-ore explorer Lang Hancock. Rinehart made her wealth rebuilding Hancock Prospecting, becoming chair in 1992 when her father died.
To be considered in Australia's highest percentage of wealth, you must have a total net worth of a staggering US$5.5 million (A$8.26 million).
Australians wanting to be in the country's top 1% for wealth need to have an individual net worth of US$5.5 million ($8.3 million), Knight Frank's 2023 Wealth Report has found.