It doesn’t necessarily take a government report to uncover where the ‘rich’ part of town is. A quick drive through some of the more ritzy areas in your city is usually enough to paint a picture of where the equity boundary lines have been drawn. Nevertheless, the Australian Taxation Office (ATO) has done us all a solid and removed any shred of doubt we may have once held regarding our waterfront-facing friends. The government body has this week unveiled a new report that outlines, among other things, the 10 highest-earning suburbs in Australia. Sure, you can probably picture which regions are the list, but how accurate are your assumptions really?
If you, like almost everyone who has spent any time in Sydney, said Double Bay, congratulations, you’re entirely correct, but it wasn’t the only inner-city Sydney postcode to make the highest-earning suburbs in Australia list. In fact, there were quite a few.
Highest-Earning Suburbs in Australia
The New South Wales capital dominated the richest suburbs Australia list, with a few unsurprising additions thrown in. The city’s Eastern Suburbs and Lower North Shore took out six of the 10 top-earning places on the list. Three Melbourne suburbs managed to the highest-earning list, as did one desirable beach-side suburb in Perth. That left our good friends over in Brisbane, Adelaide and Tasmania out in the cold when it comes to the richest suburbs in Australia.
So, who made the top 10? Without further ado, here is a list of the 10 highest-earning suburbs and postcodes in Australia.
1. 2028 (Double Bay), NSW
The ritzy harbourside suburb is home to a number of upscale boutiques, salons and restaurants. A slightly older crowd, Double Bay has enjoyed years as one of the nation’s most glamorous and sought-after real estate destinations.
Average income: AUD$242,428
Number of Individuals: 3,517
2. 2027 (Darling Point, Edgecliff, Rushcutters Bay, Point Piper), NSW
Another harbourside eastern suburb of Sydney, the 2027 regions are part of the Woollahra council. With breath-taking views, a vibrant cafe culture and waterfront views, it’s not really a surprise that this postcode makes the highest-earning suburbs list.
Average income: AUD$198,828
Number of Individuals: 6,139
3. 3142 (Hawksburn, Toorak), VIC
Melbourne’s premier region, Hawksburn and Toorak offer some massive houses set amongst beautiful scenery just outside the CBD. Eddie McGuire lives in Toorak, so you know there’s money here.
Average income: AUD$196,816
Number of Individuals: 10,219
4. 2023 (Bellevue Hill), NSW
Described as an ‘affluent harbourside’ suburb by Google itself, Bellevue Hill is a stunning and picturesque region that offers a wealth of great natural and man-made marvels; wealth being the keyword here. This is one of the richest suburbs Australia has to offer.
Average income: AUD$193,440
Number of Individuals: 7,513
5. 3002 (East Melbourne), VIC
Littered with beautiful Victorian-era terrace houses, it’s no big surprise that East Melbourne has made the highest-earning suburbs list again this year. The postcode is highlighted by its bevy of European-style cafes and show-stopping performances at the opulent Princess Theatre.
Average income: AUD$185,437
Number of Individuals: 3,709
6. 2030 (Dover Heights, Rose Bay North Vaucluse, Watsons Bay), NSW
Set against some of the most picturesque waterfront views in Australia, the old 2030 is a sublime bit of real estate. You’d have to be one of the highest earners to afford it, this one definitely one of the richest suburbs in Australia.
Average income: AUD$181,954
Number of Individuals: 10,040
7. 2110 (Hunters Hill, Woolwich), NSW
Situated on Sydney’s Lower North Shore, the suburbs of Hunters Hill and Woolwich have become some of the most sought-after. Not a bad turnaround for a region that was for decades used as Sydney’s shipbuilding heart.
Average income: AUD$177,615
Number of Individuals: 6,264
8. 2088 (Mosman, Spit Junction), NSW
When the Beckhams come to Australia, they stay at Mosman. Enough said, really.
Average income: AUD$171,904
Number of Individuals: 20,331
9. 2063 (Northbridge), NSW
Another Lower North Shore region, Northbridge has all the hallmarks of a wealthy neighbourhood. Water, mansions, parklands and cafes; they’re all at your fingertips.
Average income: AUD$169,142
Number of Individuals: 4,338
10. 6011 (Cottesloe, Peppermint Grove), WA
The only Western Australian postcode to make the highest-earning suburbs list, 6011 is home to Cottesloe and Peppermint Grove, two stunning beachside regions that are truly spectacular. Score pizza and seafood at the Indiana Cottesloe Beach restaurant, a former tea house from 1910, while oceanfront pubs with beer gardens host “Sunday Sessions” with live music. Inland, you’ll find hip bakeries, designer jewellers and surf-wear stores.
Average income: AUD$167,090
Number of Individuals: 6,486
What is the highest-earning suburb in Australia?
According to the latest data from the Australian Taxation Office, the highest-earning suburb by taxable income in Australia is Double Bay.
What is the highest-earning suburb in Victoria?
The highest-earning suburb by taxable income in Victoria is the postcode of 3142, which encompasses Hawksburn and Toorak.
What is the highest-earning occupation by industry in Australia?
According to the ATO's data, the highest-earning occupation by taxable income in Australia is surgeon, with an average taxable income of $402,582.