Who's the breadwinner? In Perth, it's probably your house
Perth is the only place in Australia where houses earned more than people, with average prices surging by $95,022 over the past year – climbing from $812,482 to $907,504.
Ray White Group senior data analyst Atom Go Tian said Perth residents seemed to have the best of both worlds.
'Not only do they earn the second-highest annual income across the country, but their houses made the biggest gains in the last 12 months,' he said.
'Even Canberra with annual incomes of $93,351 couldn't match what Perth houses made.'
Tian said in Adelaide it was neck and neck with both annual personal income and house price growth sitting at just over $63,000. Brisbane homeowners were just keeping their noses in front, earning roughly $2000 more than their houses appreciated.
'However, the gap widens from here with Melbourne and Canberra having the greatest disparity between personal income and house price growth,' he said.
'Melburnians made 5.5 times more than their properties, while Canberrans pulled in five times what their houses did.'
At a suburb level Perth dominated the list of suburbs where houses earn more than people. Carabooda-Pinjar, which has a median house price of $1.58 million, recorded the largest difference between annual house price gain and income with a net positive increase of $95,272. It was closely followed by Nedlands-Dalkeith-Crawley ($93,000), City Beach ($80,514) and Claremont ($63,293).
'Even among Perth's strongest performers, house prices remain relatively accessible compared to Sydney and Melbourne,' Tian said.
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