New Australian Bureau of Statistics data shows Mosman south, Woollahra, Bellevue Hill and a fourth area covering Rose Bay, Vaucluse and Watsons Bay have the highest proportion of high income earners, with more than four per cent receiving a weekly income of at least $10,000.
No suburb in the country features a greater concentration of members of The List – Australia's Richest 250 than Toorak, where Melbourne's wealthiest families have gathered for decades. Think historic looking mansions guarded by large hedges set back from the street to ensure privacy.
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.
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.
Queensland has the best-performing economy in Australia, according to CommSec's latest State of the States report. The Sunshine State has been named the top-performing state economy, thanks to strong population growth, a solid job market and overseas demand for energy resources, such as coal and natural gas.
The highest-earning suburbs in Australia are Cottesloe and Peppermint Grove in Western Australia, based on the ATO's latest taxation figures.
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.
The postcode 6710, which covers a slice of North-Western Australia from the Pilbara town of Cane to the coastal town of Onslow, is officially Australia's richest, with residents earning a median wage of $2,000 a week, or $104,000 a year.
In 2019-20, a household at the 90th percentile of the distribution – that is, a household that is richer than 90 per cent of households – had a net worth of $2.26 million. A household at the 10th percentile was worth just $36,900, or 61 times less.
Vaucluse is known for being an incredibly affluent area with peninsular and harbour views unlike any other. You'll find lavish beaches everywhere in this coastal haven. A median-priced house in Vaucluse will cost you a whopping $8.67 million and $2,895 in rent.
Outlandish as it may seem, the lavish spending has become commonplace within the inner circles of Sydney's community of wealthy Chinese. Billionaires from mainland China, Hong Kong and Singapore, along with homegrown Asian tycoons, have turned the Harbour City into their playground.
More than 80 per cent of Australians live within the coastal zone.
Hollywood stars hunker down in Australia's Byron Bay, where COVID-19 spurs film boom. Australia's coastal town of Byron Bay has been a draw for Chris Hemsworth (who lives there), Melissa McCarthy, Zac Efron and Nicole Kidman.
A nuanced state of affairs
Tasmania, with the highest average wellbeing score of 76.1, comes out on top, followed closely by Victoria and South Australia. Western Australia, on the other hand, has the lowest average wellbeing score at 75, just below that of New South Wales and Queensland.
Goodooga, was known in the past as the most boring town in Australia, until that is, the local bowling club team competed in the state pennants bowling competition.
Canberra is most likely the safest city in Australia, with a substantially lower crime rate. Because of its fascinating attractions, Canberra has been ranked as one of the foremost places to live in Australia for family immigrants. Canberra's cost of living is lower than its costly counterparts such as Melbourne.
Sydney topped the list with an inflow of about 4000 millionaires in 2015, a 4 per cent increase year on year. There are now 95,400 millionaires living in the city.
Burketown, Bathurst Island, Telfer, Binjari, Forrest (WA), Alice Springs and King Ash Bay are towns possessing highest household size.”
#1: New York
New York is the wealthiest city in the world—home to 345,600 millionaires with a total private wealth that exceeds $3 trillion. New York is home to many Fortune 500 companies and is the financial heart of the United States, with the New York Stock Exchange and NASDAQ located in the Big Apple.
Perth has been named the friendliest city in Australia. True story!
Fitzroy named the coolest neighbourhood in Australia.