The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
UPCOMING EVENT - LAND LEASE DEVELOPMENT SUMMIT 10 DAYS TO GO
10 DAYS TO GO - LAND LEASE DEVELOPMENT SUMMIT
REGISTER NOWREGISTER
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
OfficeTed TabetFri 29 Mar 19

Australia’s Richest and Poorest Postcodes Revealed

TUD+ MEMBER CONTENT
85551ee2-bc3c-42b1-bb70-ae323787fafa

For the first time in seven years Sydney 2027 postcode, home to Edgecliff and Point Piper, is no longer country's highest-earning postcode.

The Australian Taxation Office has released the latest taxation statistics for 2016-17, analysing 13.9 million tax returns in order to gauge the nation's richest and poorest regions.

The report has found that 1,279 residents of Palm Beach on Sydney's northern beaches hold the juiciest pay packets in the country, knocking postcode 2027 as Australia's highest earning postcode since 2009-10 off top spot.

Residents of postcode 2108, which comprises Coasters Retreat, Currawong Beach, Great Mackerel Beach and Palm Beach, are now the nations top earners, taking home an average taxable income of $230,330.

Related: Sydney Still in Top Ten in Global City Wealth Index


Highest earning postcode in each state (based on average taxable income 2016-17)

PostcodeStateNumber of TaxpayersAverage Taxable Income
2108NSW1,279 $230,330
3142VIC10,044$193,904
6011WA6,431$155,264
2603ACT6,650$110,394
4007QLD9,278$107,478
5061SA6,587$92,871
885NT527$83,343
7258TAS571$68,621


The 6,089 tax filers in Edgecliff and and Point Piper's 2027 postcode made an average of $187,769, dropping to third position in the country behind Victoria's 3142 postcode home to Hawksburn and Toorak with an average taxable income of $193,904.

Surprisingly, new pole sitter Palm Beach hadn't even been on the list of the top-earning postcodes in Australia over recent years.

The postcode of 6011 was the richest in Western Australia where 6,431 tax filers living in Cottesloe and Peppermint Grove on Perth's western suburbs made an average of $155,264.

In ACT, the 2603 was the top performing postcode, with 6,650 tax-filers in Forrest, Griffith, Manuka and Red Hill earned an average of $110,394.

Queensland's top postcode was 4007, with 9,278 residents of Ascot, Hamilton and Hamilton Central in northeast Brisbane earning an average taxable income of $107,478.

In South Australia 5061 took the top spot, with 6,587 residents of Hyde Park, Malvern and Unley in Adelaide taking home an average of $93,871.

The Northern Territory's top postcode was 885, where 885 residents in the town of Alyangula made an average taxable income of $83,343.

Tasmania's top postcode was 7258, where the 571 residents of the Launceston suburbs of Breadalbane, Relbia and White Hills made an average of $68,621.

Related: Australia's Billionaires Earned $100m a Day Last Year


Australia's 10 richest postcodes (based on average taxable income 2016-17)

PostcodeStateNumber of TaxpayersAverage Taxable Income
2108NSW1,279$230,330
3142VIC10,044$193,904
2027NSW6,089$187,769
2030NSW9,956$178,282
2063NSW4,261$169,365
2023NSW7,454$169,334
2028NSW3,505$160,378
2088NSW20,182$158,897
3944VIC449$156,079
2110NSW6,104$156,069


New South Wales, which is home to eight of the top ten richest suburbs in the country is also home to the lowest-earning postcode 2308, covering Newcastle University and Callaghan, with an average taxable income of $20,589.

Five of the 10 lowest-earning postcodes were in Queensland, with 4611 covering Marshlands and Mondure ranking second-lowest with an average income of $23,225.

Watchem, Morton Plains and Massey in Victoria had the third-lowest average taxable income at $24,346.

The best and worst paying professions

The report also revealed that surgeons were once again the top-earning profession, making an average of $394,866 with Anaesthetists second, earning $367,343 on average and internal medicine specialists third with an average income of $299,378.

Fast food cooks were amongst the lowers earners making an average of $18,616 with Hospitality employees second, earning an average taxable income of $19,102 and hospitality apprentice or trainees in third taking home $19,282.

Out of 1,100 occupations recorded, there were 72 jobs where women made more than men, including authors, future traders, magistrates, professional surfers and illustrators.

ResidentialAustraliaReal EstateSector
AUTHOR
Ted Tabet
The Urban Developer - Journalist
More articles by this author
website iconlinkedin icon
ADVERTISEMENT
184-200 Broadway Chippendale
Development

Backpacker Giant to Rise in Sydney’s Inner-City

Vanessa Croll
Sponsored

Getting Accommodation Right, from Games to Legacy

138 Barkers Road HERO
Placemaking

SPG Founder Seeks Density Boost for Hawthorn Super Lot

Leon Della Bosca
The number of homes approved for a former railway station site in Melbourne’s east would more than double under the new …
LATEST
184-200 Broadway Chippendale
Development

Backpacker Giant to Rise in Sydney’s Inner-City

Vanessa Croll
3 Min
Infrastructure

Getting Accommodation Right, from Games to Legacy

7 Min
138 Barkers Road HERO
Placemaking

SPG Founder Seeks Density Boost for Hawthorn Super Lot

Leon Della Bosca
3 Min
Exclusive

Starchitect Ivan Harbour on the Power of Small Spaces

Taryn Paris
6 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/australias-richest-postcodes-revealed
SHARE
64
print
Print
TOP STORIES
Exclusive

Starchitect Ivan Harbour on the Power of Small Spaces

Taryn Paris
6 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
View All >