Check out our interactive map to reveal how average incomes vary across Sydney suburbs.
Income has become more concentrated in some of Sydney’s wealthiest regions including the eastern suburbs, inner city and inner west during the past decade, while in the western suburbs the distribution of earnings has remained relatively stable.of personal income by the Bureau of Statistics shows the top 1 per cent snared a bigger share of earnings in Sydney’s eastern suburbs than any other city region – 20.2 per cent, up 2.1 percentage points over the decade to 2020-21.
Terry Rawnsley, an urban economist at KPMG, said structural changes in Sydney’s economy, especially the boom in knowledge intensive services such as finance and IT, had been a key driver of income disparities across the city. “In western Sydney, there’s much more of a diverse population because the housing market makes it easier for different income cohorts to remain.”huge differences in financial resources across the metropolitan area
Auburn North in Sydney’s central west had the city’s lowest average personal income at $44,283. It was one of 12 neighbourhoods in western Sydney with an average personal income below $50,000 in 2020-21. “The bulk of ASX 200 companies are based there, and it’s a big financial and insurance hub for the Asia-Pacific, so you’ve got a lot of very high-paying jobs in Sydney,” he said. “You just don’t find as many of those jobs in, say, Adelaide, Perth or Brisbane. ”Eastwood in Sydney’s inner north-west had the city’s highest percentage of total income going to its top 1 per cent of earners, at 35.5 per cent in 2020-21.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Sydney suburbs where one compromise can make home owners the most cashHome owners across dozens of suburbs could be left with more than $1.5 million to spare if they downgraded from a house to an apartment.
Read more »
Conwoman's Luxury Sydney Penthouse Sold to Repay Stolen MoneyMelissa Caddick's penthouse in Sydney has been sold to repay stolen funds. The apartment was listed for auction but was later put on the market for private sale. The price has not been disclosed.
Read more »
Portrait of the artist, and his portrait of Sydney lifeMichael Kelly is a landscape artist who’s kept sketchbooks of what he’s seen, studied, and where he’s lived. Many will be on show at the State Library of NSW.
Read more »
Man tasered and two others on run after separate police pursuits in SydneyTwo men are on the run and one man has been tasered by police following multiple dramatic police pursuits overnight.
Read more »
'Extreme' violence: Search for attackers after friends assaulted on Sydney streetLocal police described it as one of the worst categories of assault they have seen in a long time.
Read more »
Ground collapses near Sydney construction workers in second sinkhole incidentThe sinkhole opened near a major construction site in Sydney&x27;s south.
Read more »