Yahoo Finance Highest-earning Australian region revealed
Newly released data from the Australian Bureau of Statistics shows that people living in Toorak, Melbourne are earning the highest average income in the country.
Using data from the Australian Taxation Office, the ABS determined that residents of Toorak recorded an average income of $150,548 in 2010-11.
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Second on the list is Mosman (Sydney) with $142,773; followed by Double Bay-Bellevue Hill (Sydney) with $141,544. The top five is rounded out by Hunters Hill-Woolwich (Sydney), weighing in at $138,007, along with Cottesloe (western Perth) on $125,441.
There continues to be a large gap between capital city regions and other areas, with the Western Australian mining centres of Karratha ($86,828) and Port Hedland ($86,079) earning the highest incomes.
The ACT leads all the other states and territories with an average income of $61,608, followed by Western Australia on $58,291.
The national average was at $52,240.
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Salary growth, analysed from 2005-06 to 2010-11, was strongest in South Australia, with the region of Le Hunte-Elliston posting an annual growth rate of 30.9 per cent. Income growth in the Eyre Peninsula is being driven in part by aquaculture activity, such as the farming of abalone and oysters, and the local processing of blue fin tuna.
Seven of the ten fastest-growing regions were in South Australia. The three exceptions were Condobolin (NSW) with 12.9 per cent growth, Morawa (WA) with 11.6 per cent, and Daly (NT) with 11.5 per cent.
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