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Sydney Morning Herald
19-05-2025
- Business
- Sydney Morning Herald
What you need to earn to be in the top 1 per cent in your Perth suburb
The top 1 per cent of income earners in a ring of Perth waterside suburbs take home more than $2 million a year on average, while in another dozen neighbourhoods across the city the best-paid 1 per cent make more than $1 million. Analysis of official personal income data by this masthead has revealed a cluster of ultra-high earners in Perth's wealthy western suburbs. Topping the list was Cottesloe where the highest paid 1 per cent had an average annual income of $16.1 million, the highest in Australia. The 1 per cent in the adjacent neighbourhood of Mosman Park-Peppermint Grove was next with an average annual income of $4.3 million. Third was the 1 per cent living in Nedlands-Dalkeith-Crawley with $3.9 million. Across the whole of Greater Perth, the average income of the top 1 per cent was $811,000 in 2021-22. That compares with an average annual income for all earners in the city of $79,500; the median income (the middle value of all earners) was $60,360. The analysis used Australian Bureau of Statistics personal income figures, which draws on Tax Office records for the 2021-22 financial year, the most recent available. The data only covers individual pre-tax income; it does not include assets owned by individuals such as housing and shares. Suburbs where the top 1 per cent have especially high incomes correlate closely with house prices. Cottesloe had the city's second-highest median house price of $3.2 million in Domain's latest House Price Report. The Dalkeith area, which was second on the 1 per cent income list, had the highest median house price at $3.3 million. While suburbs with the highest average incomes for the top 1 per cent were mostly near the Swan River and along the coast, one was located in the Perth Hills with Gidgegannup sitting at $1.3 million. Strategic Property Group managing director Trent Fleskens said the figures showed just how concentrated wealth was in the western suburbs and added high incomes in these pockets were subsequently driving up local property prices.
The Age
19-05-2025
- Business
- The Age
What you need to earn to be in the top 1 per cent in your Perth suburb
The top 1 per cent of income earners in a ring of Perth waterside suburbs take home more than $2 million a year on average, while in another dozen neighbourhoods across the city the best-paid 1 per cent make more than $1 million. Analysis of official personal income data by this masthead has revealed a cluster of ultra-high earners in Perth's wealthy western suburbs. Topping the list was Cottesloe where the highest paid 1 per cent had an average annual income of $16.1 million, the highest in Australia. The 1 per cent in the adjacent neighbourhood of Mosman Park-Peppermint Grove was next with an average annual income of $4.3 million. Third was the 1 per cent living in Nedlands-Dalkeith-Crawley with $3.9 million. Across the whole of Greater Perth, the average income of the top 1 per cent was $811,000 in 2021-22. That compares with an average annual income for all earners in the city of $79,500; the median income (the middle value of all earners) was $60,360. The analysis used Australian Bureau of Statistics personal income figures, which draws on Tax Office records for the 2021-22 financial year, the most recent available. The data only covers individual pre-tax income; it does not include assets owned by individuals such as housing and shares. Suburbs where the top 1 per cent have especially high incomes correlate closely with house prices. Cottesloe had the city's second-highest median house price of $3.2 million in Domain's latest House Price Report. The Dalkeith area, which was second on the 1 per cent income list, had the highest median house price at $3.3 million. While suburbs with the highest average incomes for the top 1 per cent were mostly near the Swan River and along the coast, one was located in the Perth Hills with Gidgegannup sitting at $1.3 million. Strategic Property Group managing director Trent Fleskens said the figures showed just how concentrated wealth was in the western suburbs and added high incomes in these pockets were subsequently driving up local property prices.
Sydney Morning Herald
21-04-2025
- Business
- Sydney Morning Herald
The big gains behind Perth's best-performing suburbs
Perth's best-performing suburbs are making millionaires out of home owners, with median house prices in some leaping by as much as $500,000 in 12 months. However, new data reveals other suburbs are sliding backwards. Domain's House Price Report for March reveals Perth's best-performing suburb is Ardross, where the median house price surged 51.5 per cent from $1.13 million to $1.72 million in a year – a gain of $585,554. This price gain is more than the median unit price in Perth, which currently sits at $508,367. Medina in the City of Kwinana recorded the next highest gains, jumping 40.5 per cent from $384,496 to a new median of $540,250, an increase of $155,754. A slew of suburbs in the top 10 for biggest gains across the year were propelled into the million-dollar club, including West Leederville (up 40.3 per cent to $1.23 million), Bull Creek (up 38.7 per cent to $1.38 million), Booragoon (up 38.3 per cent to $1.3 million) and White Gum Valley (up 33 per cent to $1.2 million). Armadale rounded out the top 10 with a gain 32.5 per cent to a median of $550,000 and has recorded an incredible growth of 154 per cent in five years, a gain of $333,465. Strategic Property Group managing director Trent Fleskens said Ardross offered fantastic amenity, wedged between Westfield Booragoon and the Swan River. 'It is enjoying a ripple effect from the premier neighbouring suburbs Applecross and Mount Pleasant,' he said.
The Age
21-04-2025
- Business
- The Age
The big gains behind Perth's best-performing suburbs
Perth's best-performing suburbs are making millionaires out of home owners, with median house prices in some leaping by as much as $500,000 in 12 months. However, new data reveals other suburbs are sliding backwards. Domain's House Price Report for March reveals Perth's best-performing suburb is Ardross, where the median house price surged 51.5 per cent from $1.13 million to $1.72 million in a year – a gain of $585,554. This price gain is more than the median unit price in Perth, which currently sits at $508,367. Medina in the City of Kwinana recorded the next highest gains, jumping 40.5 per cent from $384,496 to a new median of $540,250, an increase of $155,754. A slew of suburbs in the top 10 for biggest gains across the year were propelled into the million-dollar club, including West Leederville (up 40.3 per cent to $1.23 million), Bull Creek (up 38.7 per cent to $1.38 million), Booragoon (up 38.3 per cent to $1.3 million) and White Gum Valley (up 33 per cent to $1.2 million). Armadale rounded out the top 10 with a gain 32.5 per cent to a median of $550,000 and has recorded an incredible growth of 154 per cent in five years, a gain of $333,465. Strategic Property Group managing director Trent Fleskens said Ardross offered fantastic amenity, wedged between Westfield Booragoon and the Swan River. 'It is enjoying a ripple effect from the premier neighbouring suburbs Applecross and Mount Pleasant,' he said.
