The Australian Capital Territory (ACT) has the highest average income among Australian states and territories, due to its strong public administration and professional services sectors.
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.
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 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.
Loyola, Los Altos, California
The richest neighborhood in America is Loyola, California. The average household income in Loyola is $326,069, with the median income a little lower at $246,563. The median listing price is $3,899,000.
Five of the country's top 10 richest towns are located in Western Australia, according to the latest census data, with Dampier taking the top spot with 22% of its residents earning more than $4,000 per week.
It is a common story across Australia's top-tier neighbourhoods. From Toorak and Canterbury in Melbourne to Darling Point and Point Piper in Sydney, wealthy Chinese rank among the country's most prolific buyers of high-end real estate.
Gina Rinehart
Gina Rinehart has kept the top spot on the rich list once again. The mining magnate has an estimated $37.1 billion. Her wealth derives from the privately owned mining company Hancock Prospecting, founded by her father Lang Hancock.
The table and infographic map below breaks this down to show how each state is faring. WA is Australia's fastest growing state, growing at more than twice the national growth rate, twice the rate of Victoria and almost three times that of NSW.
Sydney regains the top spot as Australia's largest city for 2021, but Melbourne is close on its heels.
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?).
Currently, the Australian capital city with the worst affordability is Hobart. While Sydney, Melbourne, Adelaide and the ACT all improved in affordability during the COVID-19 pandemic, they declined again in 2022.
The poorest suburbs in Sydney are Blacktown, Fairfield, Liverpool, and Auburn. These are the least advantaged suburbs in Sydney, as determined by a combination of household income, occupation, and level of education.
New York is the world's most popular place for the super rich to own a property, according to a new report by data firm Altrata. A total of 21,714 ultra-high-net-worth (UHNW) individuals — those worth over $30 million — own either a primary or secondary residence in the city, the study found.
Millionaires have many different investment philosophies. These can include investing in real estate, stock, commodities and hedge funds, among other types of financial investments. Generally, many seek to mitigate risk and therefore prefer diversified investment portfolios.
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).