Australia's suburbs with the highest average taxable incomes are concentrated in Sydney's Eastern Suburbs, led by Double Bay (2028), followed by affluent areas like Point Piper, Darling Point (2027), and Bellevue Hill (2023), with Perth's Cottesloe/Peppermint Grove (6011) and Melbourne's Toorak/Hawksburn (3142) also featuring prominently in top postcode lists based on recent ATO data.
Based on the ATO's latest taxation figures, the highest-earning suburb in Australia is Sydney's Double Bay in New South Wales. See the full list of postcodes below. Source: Australian Taxation Office (ATO).
Toorak, Victoria, 3142
But Toorak in Melbourne is by far and away the most popular place for the richest people in Australia to live. There are no less than 22 people on the list in Toorak.
New York: Scarsdale.
The average Scarsdale home is worth $1.6 million, as of June 2025. It's the wealthiest suburb in America.
Suburbs set for a boom in 2025, particularly in Australia, are driven by affordability, lifestyle appeal (beaches, cafes), infrastructure (new transport links), and demographic shifts, with hotspots identified in Perth's northern coastal areas (Alkimos, Yanchep), Regional Queensland (Toowoomba), Melbourne's outer areas (Werribee, Keilor East), and Brisbane's growth zones (Springwood, Gold Coast's Coomera), as people seek value and better living environments outside major city centers.
Jobs paying $200k+ in Australia are common in specialized fields like Medicine (Surgeons, Anaesthetists, Specialists), Technology (Data Scientists, Cloud Engineers), Engineering, Executive Management (C-Suite, Directors), Law, and high-end Sales, with significant opportunities also in the Mining sector, alongside specialized roles in Finance, Construction Management, and Healthcare Administration, often requiring significant experience or niche skills.
1. Sydney. Sydney boasts a staggering 126,900 resident millionaires, along with 184 centi-millionaires and 15 billionaires, residing in some of the world's most exclusive residential suburbs, such as Bellevue Hill, Darling Point, Mosman, Point Piper, and Vaucluse.
“Of the 40 suburbs projected to add the most residents from 2020 to 2100, five are in the Phoenix metro area, and five are in the Dallas metro area.” The article lists the 40 fastest-growing suburbs, with Frisco, Texas topping the list.
Top 20 Richest Suburbs in Sydney To Live
Sydney's Eastern Suburbs dominate the premium end. They hold most of the top 10 spots, led by Point Piper, Bellevue Hill, and Tamarama.
Kylie Minogue, who was born in Melbourne and lived in the UK for decades, confirmed in 2021 she was moving back to her hometown of Melbourne, Australia, to be closer to her family after spending more time there during the pandemic, though she still maintains ties to the UK.
Australia ranks twice on the top 50 list, with Sydney in 17th place and Melbourne in 30th place worldwide. Sydney is currently home to 205 centi-millionaires while Melbourne has 112.
Australia's most educated areas
In 2022 the median income in Australia was $65,000 a year according to the Australian Bureau of Statistics. Anyone making less than this amount would be considered working class. Anyone making more than $137,000 falls in the top 10% which is considered upper class.
Lane Cove Named Australia's Most Liveable Community. Lane Cove has been officially recognised as the number one most liveable community in Australia, following the results of the 2025 Australian Liveability Census.
The 2% property rule is a real estate investing guideline to quickly assess if a rental property could generate positive cash flow, suggesting the monthly rent should be at least 2% of the total purchase price (including necessary repairs); if a $200,000 property can't rent for $4,000/month (2% of $200k), it might not be a strong cash flow investment, helping investors filter potential deals, though it's a simplified metric not guaranteeing profitability and works best in affordable markets.
Fastest Growing Cities in the US
Hobart had by far the slowest growth adding less than 1,000 people. 2023-24 (no.)
Northern Territory
This is the least populated state in the country and one of the poorest. Mining is the principal economic activity here and provides jobs for over 4,600 people. This sector is focused on mineral and petroleum exploitation and production.
Queensland is sunny and humid, making it an ideal destination for outdoor enthusiasts. Melbourne and Tasmania are cooler compared to other Australian states. Adelaide and Perth have warm, dry summers and mild winters, which might suit you if you're into warmer weather.
High net worth families frequently use SMSFs and discretionary trusts to hold equities, property, and alternatives. These structures support tax-efficient investment strategies, income distribution, and access to tailored financing solutions, especially when paired with hybrid or corporate beneficiaries.
High-paying jobs in Australia without a degree often involve skilled trades (electrician, plumber), technology (ethical hacker, ICT Manager), management (Construction Manager, HR Manager, Sales Manager), and specialized roles (Air Traffic Controller, Pilot, Drillers/Miners), relying on certificates, apprenticeships, or on-the-job training for high earning potential.
Ideally, the rate of return on your investments is enough for you to live off of, so you never need to touch your principal. With $200,000 in your retirement savings and factoring in the average annual rate of return between 10–12%, you'll have between $20,000 and $24,000 to live off of each year.
Only 9,144 of the 14,467 Australians on taxable incomes of more than $1 million worked. Only 17,883 of the 222,813 Australians on more than $250,000 worked.