Income and wealth distribution by state

Monday, September 12, 2016

High wealth, high income

What are the high wealth, high income states? Western Australia is leading in terms of both income and wealth, with $133,224 and $952,500 respectively, which is well above the average household annual gross income of $107,276 and average household net worth of $809,900.

However, over the last year particularly, the impact of the mining slowdown has affected earnings and also wealth. The reliance on the mining sector and the fluctuation of income and wealth based on the fortunes of this one sector are highlighted in the fact that between 2012 and 2014, the household incomes of those in Western Australia rose by 21% which was almost double that seen in the leading east coast state of New South Wales, and the wealth in this 2 year period increased by 24%, again almost double on what we saw from the best performing east coast states.

Top performing states

New South Wales is the most consistent performer in wealth and income, and the only other state to have both income and wealth about the national average (12% on income and 13% on wealth). It has a stable economy, with the largest infrastructure investments in the nation, a broad base of industries and consequently solid forward forecasts.

The Northern Territory, like Western Australia has been fluctuating, and while it has average income above the national average, its wealth is below the national average. Queensland, while improving in both income and wealth is below the national average on both as well. And Victoria while seeing solid gains in both income and wealth, with wealth largely due to the housing market above the national average, its income has still not quite reached the national average.

Worst performing states

The worst performing states are Tasmania, with incomes 26% below the national income and wealth average, as well as South Australia which is 19% below the average household income and 20% below the national net wealth.

While household income gains have been low in some states (a total of 6% gain since 2012 in South Australia, Tasmania and the Australian Capital Territory over the last 2 years), at least all of the states have had an increase in incomes, but such has been the change in property prices and the rise in living costs, the Northern Territory, South Australia, Tasmania and the Australian Capital Territory have all seen a slight fall in average household wealth since 2012.

A Snapshot of Australia's Housing Market

Monday, August 01, 2016

Owning a home is the great Australian dream, but with 30% of Australians renting, could our love affair with bricks and mortar be turning sour? Our Aussie states go head to head as we compare affordability for buyers and renters.

How many Australians own their home outright and how many have a mortgage?

2 in 5 (40%) Australians are trying to own their own home and slowly pay it off, with the smallest category of all, 28%, being lucky enough to have paid off their home in full.

How do the capital cities compare when it comes to renting an apartment?

As you would expect, Sydney ranks as the most expensive city, costed at about $500 per week for your average apartment. Amazingly, Darwin is up there as well due to more more demand than supply and with not the same investment in stock. Meanwhile, if you move down to Hobart, it is almost half that, paying about $270 per week, and Adelaide not much beyond that at $370.

What if you are looking to buy a home, how much is that?

Sydney is still leading Australia by a long way with almost a $1,000,000 median house price. A distant second is Melbourne, at over $800,000. If you look down to Hobart, the median house price is $357,000, so that means using the money spent on a home in Sydney, you could buy about 3 homes in Hobart – and a pretty good lifestyle down there as well.

Looking at Australia as a whole, what is the percentage of apartments to houses?

About 3 in 4 Australians live in a detached home, so that’s traditionally been the Aussie dream. Then you have about 14% who live in apartments and 10% in townhouses. We are starting to see a change though, with a quarter of Australians now living in medium to high density housing. At the moment if you look at new housing approvals, it's 1 in 3, so it has gone up. If you look at Sydney and Melbourne, 2 in 3 new housing approvals are in medium to high density living. So we are starting to get more densified, with an increase in vertical communities compared to the more traditional horizontal ones, and that’s where we are headed in the future.

Watch Mark's full interview on The Daily Edition here

Wealth and Income Distribution State V State

Monday, July 25, 2016


Australia has long been considered the land of the middle class, but in recent years the gap has been widening between the rich and the poor. When it comes to the battle of the states, which corner of Australia scores the highest and the lowest on the income and wealth report? Will the Baby Boomer generation continue their stronghold on our national wealth?

Is Australia still the land of the middle class?

It is hanging in there, but it’s under pressure. We have seen some hollowing out in the middle of the earnings and a bit of spread to either end. The average annual household earnings are around $107,000 however the lowest fifth of households earn 20% of this while the top fifth average almost three times this. That means that the top fifth of households are taking home about 12 times what the bottom fifth of households are earning.

Most Aussies have their wealth tied up in their homes, how does ownership compare with the top, middle and lower classes?

The average wealth (if you liquidate everything and pay off all your debts, what are you left with) is about $800,000. The bottom 1 in 5 have a net worth of just $35,000, the top 20% of all household have a net worth of about $2,500,000. That means that the top fifth of households have about 62% of Australia’s wealth, and the bottom fifth take less than 1% of Australia’s national private wealth. So that's a big difference in wealth across these households.

Which states are best and worst performers when we are looking just at income?

The mining boom in WA has really done a great thing over there and so they are leading the earnings chart, with the ACT not too far behind with public servant wages doing pretty well. At the bottom of the tree you have Tasmania, earning about $50,000 less per annum, per household, than what we have in the west.

What Makes a City the Most Liveable?

Wednesday, July 20, 2016

What makes a state or city liveable? Is it the low crime rate, affordability, ease of travel or is it simply the weather? We have compared some of the major factors and revealed what Aussies really think.

Affordability

If you take the average weekly earnings, subtract the average weekly mortgage repayments based on house costs, you find that NSW doesn’t do too well, it is earning 20% above the average, but the houses are 64% above the average, so NSW works out to be the worst in terms of income after housing. But WA is on top of the charts, with the ACT doing pretty well also.


Ease of travel

We took the centre of population of each of our capital cities, the mid-point of the population sprawl where as many people live north, as south of this point, and as many east, as west. From this centre of living we measured the average, non-peak hour driving time to the centre of the CBD marked by the GPO of each capital. We found that as we would probably expect, Sydney was the longest drive, about 33 minutes to get from the centre of population to the centre of the city, but the quickest trip of all was Brisbane with just 8 minutes.


Crime rates

This is the number of offenders per annum, per 100 people and the Territories book end the data here, with the ACT with the lowest crime rate nationally and the Northern Territory as the highest crime rate and the other states right in the middle. As measured by crime rates, the ACT is Australia’s safest place to live.


Weather

We measured this by looking at the average number of sunny days - totally clear days in a year. Tasmania not doing too well with a lot of cloudy, overcast days, but WA takes the crown with the most number of sunny days in any given year.



Watch Mark McCrindle's full interview on The Daily Edition here


A Snapshot of Education Across Australia

Monday, July 18, 2016

We have been looking at different aspects of life in Australia and we are turning our focus on how each state rates when it comes to education. Are we more educated than we used to be? In 1986 49% of students completed year 12 and these days its fast approaching 90%.

Let’s talk about tertiary education across the generations

We are becoming an even cleverer country as measured by university completion so if we look at the Baby Boomers, 1 in 5 have a university degree, for Generation X, that’s 1 in 4, for Generation Y its 1 in 3 but for today’s school students, about 1 in 2 of them will end up with a university degree in their lifetime.



How does university attendance compare across the states?

If we look at 18 – 24 year olds, who are full time students, we have the ACT and Victoria leading the charge there and the other states not too far behind, while the Northern Territory is a fair way behind.




When looking at school performance, which state is performing the best as they hit year 7?

The NAPLAN results allows us to compare across Australia. If you look at the percentage of students in year 7 who are above the national minimum standard, again good results across the board. ACT and Victoria again leading Australia as far as the proportion of students above the standards. The other states are close behind, again with the Northern Territory a bit off the pace.


Having an education usually means a lower risk of unemployment, how did the states rate?

Pretty good, Australia as a whole is going very well, with 5.7% unemployment, that’s well below a lot of comparable nations. It has gone down this year, not up and if you look at the states that are doing better than that with a lower unemployment rate, the Northern Territory and ACT are performing best however some other states particularly South Australia and Tasmania are a bit behind.


Watch Mark McCrindle's full interview on The Daily Edition here


Welcome to our blog...

We have a passion for research that tells a story, that can be presented visually, that brings about change and improves organisations. And we hope these resources help you know the times.

Our Social Media Sites

Facebook | McCrindle Research Social Media YouTube | McCrindle Research Social Media Twitter | McCrindle Research Social Media Flickr | McCrindle Research Social Media Pinterest | McCrindle Research Social Media Google Plus | McCrindle Research Social Media LinkedIn | McCrindle Research Social Media Mark McCrindle Slideshare


Last 150 Articles


Tags

Christmas day weather shopper's pick wealth care support HSC states list conferences lalor park baby boomers the hills Northern Territory Black Friday in Australia social commentary huffington post DIY marrickville award father's day supply and demand engagement staying in living Sydney Lifestyle Study optus my business awards not-for-profit socialites culture technology small business Black Friday Sales hello fresh cancelling event spend fears Mark McCrindle in the media business performance entrepreneurs of today emerging technologies religion New Zealand victoria Jura Australia news millennials education future FPA tertiary education story Business analysis summer australian australian community trends report 2016 census entertainment 2020 24,000,000 divorce data Willowdale earning work from home low density social media bus media commentary national crime rates shopping census 2016 social researcher group public transport Generation X communities 1968 REIV Conference wealth distribution trends of 2016 Merry Christmas growing population rain WA intern resource goals social Aussies demographic transformations global greatness organisational culture twentyseventeen office renting generation alpha 40 million world focus group research generations faux-cilise Sydney keynote speaker alpha dare to dream healthy future innovation community engagement English social analyst baby name household demographics relational lifestyle donation aussie culture Performance Sentiment Index increasing densification cooking economic student new office optimistic Australian community trends Sydney population census results research data CBD ABS family ACF2017 impact capital city McCrindle Keynote Speakers land of the middle class qualitative research wolloomooloo TDE school university capital cities ipswich Christchurch motivate the great screenage faux-ciliser prince george work-life financial fears insights coffee NSW education sector Australian Population anzac entrepreneur Gen Y grave decision volunteer Christmas season train follow woolworths mining boom royal influence futurist graphs conference presentation food insecurity home owner Australians housing affordability South Australia gen alpha faith public holiday households The ABC of XYZ brand socialising average Australian demographic employment winter Valentine’s Day Australian demographics teach eliane miles mateship Hunter Valley commuters emerging generations owning a home mythbusters national wealth event Royals 2016 Christmas presents mobile resilience ideas thought leadership 24 million 23 million professional presenters Scouts digital clothing Melbourne survey design population map tips goal local communities thrive royal baby society trends menai cost rich property price sports pyrmont residents social trends financial dreams new york times neutral bay visualisation debate consumer future-proof infographic wall speakers pack Generation Y charity responsive weather Australian Dream deloitte younger generations housing trends live the dream 2017 friends perth social issues government google for education teachers Northern Beaches Christian School sector wide study sydneysiders professional services Kirsten Brewer demographic trends Wodonga newspaper VET sector REIV National Conference students faux-cilising recap ACF 2016 buildings conference speaker facts children university degree changing face of sydney NBRS dreaming politics australian social research future of shopping February 16 Gen X rule keeper contiki royal family sydney metro Res Vis Mount Annan-Currant Hill Jura Coffee Deaths Australian communities personalities personal growth gen z "know the times" curiosity social change apartments leadership average aussie professional speaker ethnography events hills ageing population safe financial future leader property happiness Australian schools Black Friday January 26th Real Estate Institute of Victoria purpose middle class collaborative learn US sydney market communications forum speakers Queensland tv group session social life product census fail holidays wealth and income ageing the average aussie ease of travel the hills shire brand experience friendship case study annual income conference dessert geomapping GPO business repayments hopes renter of the future the australian dream area presentation Australian Trends Lower Hunter stats Kiwi identity paying to work wellbeing population milestone crime young people research visualisation jobs of the future micro apartments chairty global financial crisis commute youth narcissism experience Hornsby Shire Council ashley mckenzie christian men names social research shopping centre australians staying home more learning styles Financial Planning Week suburbs Social Trend research report mccrindle tea internships logan engage Cobbitty-Leppington research services future volunteering data education future report financial independence community social researchers property market casual Tuesday Trends forecast meetings Sydney Hills Business Chamber TAS marriage society 2016 census results toys apartment global generations life ACF17 rising house prices business index Bathburst property development village education not for profit research parents communication Australian Census eliane moreton bay baby names report high density living learning wages Research Director forecasting Education Future Forum australia christianity finance teacher employers skills data analyst communicate storytelling keynote local community focus groups sydney speaker World Water Day TED trend tuesday spirituality VIC earn cash education research in depth interviews bureau Northern Beaches economy women google sydneysider poker master unemployment investment salary data visualisation youth unemployment future of work community event internet commuting easter selfie trend SA 2014 wage SMART demographer rental stress FOMO media gig economy Word Up employmee tableau easy rider survey census year 7 etiquette IT Specialists office space social lives public speaking sun SMSF screenage staff System's Architect panel #censusfail workplace culture 1975 sydney property market house prices DESTEL Australia Day 2017 vegemite mentor fresh generation Z mortgage environmental scanning authenticity define office opening medicine outsourcing award winner earnings Research Executive ACT social analysis giving Financial Planning Association of Australia cultural diveristy mythbusting aged care relevant Crime Rates Channel Seven gold coast Wellington going out weekly earnings financial Assistant Store Manager millionth baby names australia report population daily commute tuesday school students quote pharmacies home ownership Australia street who is generation z workshop house entrepreneurial manly suburb rent charities housing growth investor PSI Macquarie University parenting 2012 1980 mover and shaker not for profit New South Wales stay home sector leadership workshop Wagga Wagga Territory analysis church couple wealth inequality poor hornsby New Zeland trends analyst social shifts online plans sustainable darwin millenials report online shopping in the media budget Australian Families rise of local cancelling plans NEETs jobs ACT Report Australian Bureau of Statistics acf15 emerging trends cica meals teleworking Andrew Duffin wealth and income distribution McCrindle Speakers marketing organisations omnibus celebration Christmas day vegetarian shbc Australian Home hills shire researcher mccrindle in the media seasons TEDx Real Estate cost of living suburban living snapshot gender trends monarchy internship Population Clock sector wide Western Australia young australians Myth post rationalism brisbane language results Canberra donate holiday future proofing cartodb sentiments house price rise micro consumerism Maxim Accounting publication Channel 7 the lucky country Retail study house price cold careers TED talk megatrends Hills Shire Council future of education nfp educated digital economy educhat Gen Z Expert generational trends travel balance NBRS Architecture speajer cancel plans world youth day investing participants 10 years Caregiver ultimo VET baby names public speaker population growth trades McCrindle Speaker optus know the times baby name trends high density apartments wedding infographic NFP event choice workers state australian communities forum pharmacy crows nest networking professional Aussie retirement urban living grandparents local NT urban taskforce Engineering Manager water Sydney’s south west mccrindle research volunteers non profit showreel research on coffee Elderslie-Harrington park employmer 2015 growth global retail professional development workforce baby boom cloudy days the changing face of slideshare energy equip winter blues food workplace criminal blaxland schools dreams McCridle city innovative australian communities trends report The Daily Edition EFF statistics sunburnt country speaker financial planning urban development screenagers social impact career JOMO urban Vocational education Geoff Brailey income school satisfaction food bank average sydneysider high density affordable mccrinlde tea customer home volunteering Do It Yourself Adelaide potts point Christmas lunch daily telegraph Duchess of Cambridge national private wealth hunger high school research pack market research coffee lovers Queensland: QLD gig child care debt townhouses money 2013 mccrindle media release waverton overcast Tasmania insight domestic social enquiry litter Sydney keynote speaker marriages media activity kate middleton australian real estate Mark McCrindle moderators guide What is food insecurity? transport hobart brands Australian Communities Trends builders sydney hills SRE Tuesday Trend training tattoos demography belief growth of sydney generation Charlotte travelling sydney event cars schools students offenders year 12 Financial Planning Association CPI breakfast Netflix royal Work place TEDx Speaker princess charlotte program affordability mother's day teaching urban living index priorities social commentator Lower Hunter Region car bondi baby presentations shifts interactive learner baby name predictions proactive video Northern beaches Event Skilling click work mates Love divorce rate collaboration real work visual ashley fell Births census data trends of 2017 typical australian housing market ACF christmas James Ward Australia Day sunny days norwest future proof dream culturally diverse infographics challenge environment long weekend change ferry unaffordable families aged care puzzle 1994 housing cultural diversity sydneycity

Archive