Overview

• Bellevue Hill in Sydney and Cottesloe in Perth lead the nation with top 1% average incomes of $7.5 million and $16.1 million, respectively, in 2021-22.
• Across Greater Sydney, the average income of the top 1% was $1.05 million, compared to $82,000 for all earners, while in Perth, the top 1% averaged $811,000 against $79,500 for all earners.
• Sydney’s top 1% accounted for 12.8% of the city’s total income in 2021-22, up from 12.2% the previous year, making it Australia’s most unequal capital city.
• The analysis underscores a strong correlation between elite incomes and property values, with suburbs like Bellevue Hill and Cottesloe also hosting some of the nation’s most expensive homes.
• Economists and property experts are urging targeted affordable housing policies to address the widening gap between elite earners and average households, particularly in high-demand areas.