Australia’s Income and Wealth Distribution

Average full-time annual earnings Median Australian house price Median Australian unit price

$97,510 $1,008,988 10.3x earnings $596,771 6.1x earnings

Annual household income Household net wealth

By State By State
% change in the last 24 months % change in the last 24 months
By household quintiles By household quintiles
NSW NSW
$ 125,944 -1%
The lowest 20% $ 1,187,100 -6%

The lowest 20% earn own just 1% of

Lowest - $25,012 VIC $35,100 - Lowest VIC
just 4% of all income Australia's national
$ 122,668 +8% $ 1,199,400 +15%
private wealth
QLD QLD
Second - $56,212 $ 116,532 +10% $252,600 - Second $ 790,300 +7%

SA SA
$ 103,428 +3% $ 917,800 +17%
Third - $93,132 $588,400 - Third
WA WA
$ 126,204 +1% $ 868,100 -9%

Fourth - $143,156 TAS $1,067,200 - Fourth TAS

$ 90,272 -2% $ 779,000 +10%

NT The top 20% own NT

The top 20% of earn $ 140,972 -9% $ 735,500 -14%
Highest - $288,028 $3,267,100 - Highest 63% of Australia's
48% of all income
private wealth
ACT ACT
$ 149,656 +7% $ 1,116,200 +8%
Average household gross Average household net wealth
annual income - $121,108 AUSTRALIA $1,042,000 AUSTRALIA
$ 121,108 +4% $ 1,042,000 +2%

The average The wealth of the

earnings of the top average household in
20% are 12x the the top 20% is 93x the
average earnings average wealth of those
of the bottom 20% in the bottom 20%
Income and Wealth by Generation
Younger Older Younger Older
Legend
Gen Y Gen X Gen X Boomer Boomer Builder
Above national Age 25–34 Age 35–44 Age 45–54 Age 55–64 Age 65–74 Age 75+
average

Below national
average

Population 3.8 million 3.5 million 3.2 million 3.0 million 2.4 million 1.9 million

% population 15% 14% 13% 12% 9% 7%

Average house-
hold net wealth $353,800 $692,600 $1,124,600 $1,519,000 $1,673,800 $1,167,000
AUS - $1,042,000

% national wealth 5% 11% 17% 23% 26% 18%

Average annual
household income $128,180 $147,524 $157,716 $131,976 $75,400 $54,340
AUS - $121,108

c b McCrindle 2023 | Source: ABS, Domain House Price Report

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