According to figures released yesterday by the Australian Taxation Office (ATO), most of the suburbs with the highest average taxable income were in Sydney's inner-east and North Shore, with some Melbourne suburbs thrown in plus one in Perth.

Rank Richest Postcodes Poorest Postcodes

1

 Double Bay, NSW (2028) $202,541 Burren Junction, NSW (2386), -$9,735
2 Toorak, Vic (3142) $201,926 Bulyeroi, NSW (2387), $902
3 Darling Point & Point Piper, NSW (2027) $199,842 Gurley, NSW (2398), $11,493
4 Dover Heights & Vaucluse, NSW (2030), $197,906 Eulo, Qld (4491), $14,354
5 Woollahra, NSW (2025), $183,417   Teelba & Glenmorgan, Qld (4423), $14,923
6 Peppermint Grove & Cottesloe, WA (6011), $179,403 Mungallala, Qld (4467), $16,985
7 Portsea, Vic (3944), $175,356 Muttaburra, Qld (4732), $17,229
8 Bellevue Hill, NSW (2023), $173,287 Goolhi, NSW (2379), $17,337
9 Mosman, NSW (2088), $171,144 Bogan Gate, NSW (2876), $19,160
10 Northbridge, NSW (2063), $168,940 University of NSW (2052), $21,329

Source: Australian Tax Office, 2018-2019 data.

The top-earning ACT postcode is 2603, comprising of Griffith and Manuka among others, with an income of $119,441.

Queensland's top postcode is 4007, which comprises of Ascot and Hamilton, for an average income of $109,289.

South Australia's was 5061, just south of the Adelaide CBD, earning $103,082.

Tasmania's top-ranking postcode was 7112, south of Hobart, earning $89,670.

The Northern Territory's was surprisingly Alyangula, 0885, which is on Groote Eyelandt off the coast of Arnhem Land with an income of $88,081.

An NT suburb more familiar to many is Bayview & Fannie Bae, postcode 0820, with an income of $81,945.

It's important to note this is average income, which encompasses part and full-time workers alike.

So, among full-time workers in the wealthiest suburbs, these averages are likely to be much higher.

The average too is likely to be pushed up by a select few earning into the millions.

The median for most of these suburbs are generally much lower, implying there are many residents who haven't earned any taxable income, such as retirees.

The data doesn't count asset value, either.

In contrast, the top two poorest postcodes, west of Narrabri, have relatively few individuals making up the numbers, and the massive loss in Barren Junction could imply a farming investment write-off.

The University of NSW, too, is large enough to have its own postcode, and there are bound to be a few students on campus earning relatively little money.

The University of Newcastle's postcode was also ranked 12th poorest.

Advertisement

Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
6.04% p.a.
6.08% p.a.
$3,011
Principal & Interest
Variable
$0
$530
90%
4.6 Star Customer Ratings
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
5.99% p.a.
5.90% p.a.
$2,995
Principal & Interest
Variable
$0
$0
80%
Apply in minutes
  • No application or ongoing fees. Annual rate discount
  • Unlimited redraws & additional repayments. LVR <80%
  • A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.
 Disclosure
6.09% p.a.
6.11% p.a.
$3,027
Principal & Interest
Variable
$0
$250
60%
  • No annual fees – None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
 Disclosure
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

Notable Residents

The richest postcodes in Australia are home to some familiar faces. 

For example, former Prime Minister Malcolm Turnbull has famously had a home in Point Piper for some years now. 

Atlassian's co-founders (creators of lovely software such as Jira and Confluence), also call Sydney's North Shore home.

Mining magnate Gina Rinehart has a home in Cottesloe, while Channel Nine stalwart and former Collingwood president Eddie McGuire has a home in Toorak. 

Photo by Manny Moreno on Unsplash



Ready, Set, Buy!


Learn everything you need to know about buying property – from choosing the right property and home loan, to the purchasing process, tips to save money and more!

With bonus Q&A sheet and Crossword!

Download Free
By subscribing you agree to our privacy policy