Latest census data released by the Australian Bureau of Statistics has revealed that most of Australia's richest towns lie in its western portion, which is not surprising though since Western Australia is home to the country's much touted mining boom. New research showed the town of Dampier is now Australia's richest town.
Dampier, a major industrial port in the north-west of WA, took the top spot after research showed that 22 per cent of its residents were found to have been earning more than a whopping $4,000 per week.
Of the country's top 10 richest towns, the top three came from WA, led by Dampier, Karratha at 18.9 per cent and Port Hedland at 17.6 per cent. A fifth WA town, City Beach came in 7th with 16.1 per cent.
If it were to be based on highest personal incomes, WA is immediately home to the 13 richest towns in the country.
Before Australia got rich and famous because of its mining boom, its wealth was traditionally supported by the riches of inner city areas such as northern Sydney, along with the inner suburbs of Melbourne.
"The mining boom has significantly influenced the latest census results. Not only do mining and energy regions dominate the lists of highest personal income and highest household income, but they are also regions of significant gender imbalance with males dominating industry employment," Craig James, CommSec economist, said in SmartCompany.com.au.
"Overall, the top 13 regions for highest median personal income are in Western Australia," he said.
Moreover, the postcode 6710 registered as that with the highest average wage. With a whopping $104,000 average income per year, this postcode includes Cane, Onslow and Peedamulla in WA.
The latest Census data, made more detailed than before, includes not only figures on incomes but also the proportion of owner occupiers, household size and the gender split in every area, either by city, town and even down to postcode.
Topping the list with the highest percentage of mortgages at 81.6 per cent was Ponds in New South Wales, seconded by Lyndhurst, Victoria, at 75.1 per cent, then Doreen, at 71.3 per cent.
"There are 184 towns in Australia where more than 50 per cent of properties are rented and actually 33 towns having a rental rate of more than 90 per cent. By contrast there are 84 towns where the rental rate is less than 10 per cent," James said.
"While the definitive break-down is not yet available on the reasons why so many homes are vacant, the primary reason is more than likely that they are used for holiday homes or holiday rentals or are properties available for rent."
To contact the editor, e-mail: