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

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

Archive