Where Australia’s highest earners live will shock you – realestate.com.au

Do you want to quickly find your way to homeownership?

New data has revealed the country’s highest-earning cities, helping you shorten the time it takes to save a down payment.

Figures from the Australian Bureau of Statistics have revealed the top 10 areas with the highest average personal income for 2022-2023, and in what will come as no surprise to anyone, the country’s mining and resource areas dominated the list.

Ashburton in Western Australia is home to the country’s wealthiest residents, with an average personal income of $112,881.

Mining town Roxby Downs came second with $106,845, while Weipa in Queensland came third with $96,818.

Andrews Owner and director Warren Andrews, whose company sells and rents Roxby Downs, said the town was a hive of activity, which in the mining industry can translate into big incomes.

“Knowing how busy that city is and how lucrative that whole BHP zone there seems to be, I’m not terribly surprised,” he said.

“Then you have all the support contractors that support the mines, and some of those contractors support the mines and then also have their own businesses that they run between shifts.”

MORE NEWS

Australia’s home loan record of $660,000 is forcing first-home buyers to reconsider

The statistic that should terrify all homeowners

Southern Ocean Lodge link to Adelaide development revealed

Shocking result as the council forcibly sells 57 properties to recoup unpaid rates

How much did this £100 Adelaide house just sell for?

How a simple change in the supermarket can get you home faster

He said Roxby Downs homes represented a good buy because of their relative affordability, solid rental yields and low vacancy rates – which means less of a hit to the hip, and more money in it down the road.

“It’s a good time to get in,” he said.

“Vacancy has fallen dramatically over the last 60 to 90 days and I think our portfolio is currently below 5 percent.”

Bulk iron ore ships in Port Hedland. Photo supplied by the Pilbara Port Authority.

---

Port Hedland in Western Australia has the fourth richest residents at $92,947, narrowly beating Karratha, also in Western Australia, at $92,657.

WA’s Peppermint Grove ($90,000), New South Wales’ North Sydney ($88,760), Woollahra ($88,612) and Lane Cove ($85,425), and WA’s Cottesloe ($83,861) completed the top 10.

MORE NEWS

How much you need to save to buy in each Australian suburb

How much did this £100 property just sell for?

Block fever causes a mad rush to dilapidated houses

Property on an Aussie island is selling for a bargain, but there’s a catch

Stop Renting Australia founder Shawn Waugh said the high incomes paid to workers in mining towns were particularly evident in Western Australia, which dominated the list.

Shawn Waugh from Stop Renting Australia.

---

“WA’s mining towns are a clear example of how income patterns can reshape entire property markets,” he said.

“When higher wages in certain industries increase the local average, real estate prices rise along with them.

“That can make it harder for lower-income people to gain a foothold, even in cities that might seem affordable on paper.”