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

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

Archive