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

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

Archive