The highest number of rich-listers live in the 2088 postcode in Sydney - which includes Mosman and Spit Junction - with 19,707 people earning $188,324, on average. In comparison, there were just 559 people in the 3944 Portsea postcode in Victoria's Mornington Peninsula, earning an average of $229,805 per year.
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.
Sydney. Sydney rounds out the top 10, with 126,900 millionaires. This makes the city Australia's wealthiest.
The large majority of Australia's 131 billionaires live on the east coast, with 44 choosing to reside in NSW. The List is the biggest annual study of Australia's 250 wealthiest individuals undertaken in this country, with final wealth figures calculated to late February 2022.
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.
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.
Dover Heights is an affluent neighbourhood that hugs the top of the cliffs overlooking the Tasman Sea, meanwhile, Vaucluse is known for being an incredibly affluent area with peninsular and harbour views unlike any other. The entire suburb is home to some of Sydney's highest property prices and largest pay packets.
Census 2021 data: Sydney's riches and poorest postcodes revealed: Marrickville the winner.
Canberra remains Australia's most expensive capital city in which to rent a house at a median cost of $690 per week, ahead of Sydney on $660, according to the Domain Rent Report March 2023 Quarter released today.
The 2023 Demographia International Housing Affordability Scheme report found that all five of Australia's major property markets - Sydney, Melbourne, Brisbane, Adelaide, and Perth - had been "severely unaffordable" since the turn of the millennium.
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.
The amount of money it takes to make it into the top 1 per cent of the wealthiest Australians has doubled to $8.25 million since 2021, according to a new report. The increase means the amount of money you need to be part of Australia's top echelon of wealth ($US5.
2030: Dover Heights, HMAS Watson, Rose Bay North, Vaucluse, Watsons Bay (NSW) Back to Sydney we go for the top two. Postcode 2030 includes Dover Heights, HMAS Watson, Rose Bay North, Vaucluse and Watsons Bay – the southern edge of the mouth of Sydney Harbour.
Sydney's most expensive home in 2018
Atlassian's Mike-Cannon-Brookes and his wife Annie purchased the house for a reported $100 million from the Fairfax family, following the death of Lady Mary Fairfax in 2017. This is the most ever paid for a house in Australia.
There aren't many of them, just 110,613 — 82,258 men and 28,355 women. Only 39,209 have taxable incomes of more than $500,000, and of these only 14,467 have taxable incomes of more than $1 million.
So if you're on $100k or more, congratulations, you're in the top 20% of Aussie income earners. If not, don't worry, you're in the good company of 80% of Aussies.
Being rich currently means having a net worth of about $2.2 million. However, this number fluctuates over time, and you can measure wealth according to your financial priorities. As a result, healthy financial habits, like spending less than you make, are critical to becoming wealthy, no matter your definition.
Chinese and Indian Australians, particularly second and third generation immigrants, are present in large numbers in Sydney and Melbourne, with Chinese Australians constituting Sydney's fourth largest ancestry group.
Pockets of wealthy people with Asian ancestry are visible around the CBD, Chatswood and Hornsby, among other places. In this map the Eastern Suburbs and Northern Beaches go fairly dark, although the central Sydney area is still lit up with people of Asian ancestry (students, perhaps?).
By 2016, according to the Australian Census, Victoria was home to the highest number of Singaporean Australians, 16,063 people, out of the total of 54,939 in the community. Western Australia was 2nd, being home to 14,987 individuals, followed by New South Wales and Queensland.
Migration out of Melbourne and Sydney combined to other parts of Australia amounted to 78,000 people in net terms for the 2021-22 financial year alone. At a capital city level, Brisbane was the fastest growing of our capitals, with 2.3% growth, and the largest numerical increase of 59,156 people.
Australian median house prices by capital city
Well, Adelaide is actually Australia's most affordable capital city for renters ($534), while Sydney is the most expensive ($711), according to the latest CoreLogic rental data.