RESIDENTS of Toorak are the nation's highest wage earners, raking in four times the income of Melbourne's poorest suburb, Doveton.
Data released on Wednesday by the Bureau of Statistics shows that Toorak residents earned an average estimated income of $132,252, making them the best paid in Victoria and Australia.
The bureau's National Statistics Centre director Lisa Conolly said the new estimates of personal income had used 2010 data from the Australian Taxation Office to provide breakdowns of personal income by wage and salary, investment and superannuation.
"Victoria's top five earning regions are in Melbourne with Toorak leading the way, followed by Brighton on $101,776, East Melbourne on $95,349, Albert Park on $91,871 and Armadale on $89,534 per annum," she said.
The lowest-earning suburbs in Melbourne were Doveton, where residents averaged just $33,014, Broadmeadows on $33,243, Meadow Heights on $34,260, Clayton on $34,738 and Noble Park on $35,104.
Outside Melbourne, the data showed, the highest average total incomes were in the Geelong area of Newtown, where residents average $56,512.
Woodend in the Macedon Ranges had average incomes of $50,960. Other regions with high average total incomes were Torquay on $48,553, Geelong on $48,528 and Traralgon on $48,344.
Ms Conolly said the average income for Victoria was $47,623 - slightly lower than the national average of $48,530.
Nationally, the next highest average incomes after Toorak were Sydney's Double Bay, on $129,116, and Mosman on $126,956.
MELBOURNES TOP 10 EARNERS
Toorak $132,252
Brighton $101,776
East Melbourne $95,349
Albert Park $91,871
Armadale $89,534
Kew $86,430
Malvern/Glen Iris $85,344
Surrey Hills/Canterbury $82,897
South Yarra $81,799
Hawthorn $80,851
MELBOURNES LOWEST 10 EARNERS
Doveton $33,014
Broadmeadows $33,243
Meadow Heights $43,260
Clayton $34,738
Noble Park $35,104
Campbellfi eld/Coolaroo $35,266
St Albans $35,565
Dandenong $35,649
Lalor $35,939
Thomastown $36,501
AND A TASTE OF THE REGIONS
Newtown, Geelong $56,512
Woodend $50,960
Torquay $48,553
Geelong $48,528
Traralgon $48,344
Ballarat $43,323
Bendigo $41,646
Castlemaine $36,760
French Island $24,585
(Victorias lowest average income)
AVERAGE ANNUAL INCOME PER PERSON
SOURCE: AUSTRALIAN BUREAU OF STATISTICS ESTIMATES OF PERSONAL INCOME FOR SMALL AREAS
Frequently Asked Questions about this Article…
Which Melbourne suburb has the highest average income and what is the average income in Toorak?
Toorak is the highest-paid suburb in Melbourne and Australia, with an average estimated income of $132,252 per person according to the ABS data cited in the article.
How much more do Toorak residents earn compared with Melbourne's lowest-earning suburb Doveton?
Toorak residents earned about four times as much as Doveton residents. The article reports Toorak's average income at $132,252 versus Doveton's average of $33,014.
What are Melbourne's top 10 highest-income suburbs that investors should know about?
According to the article's ABS figures, Melbourne's top 10 by average annual income are: Toorak ($132,252), Brighton ($101,776), East Melbourne ($95,349), Albert Park ($91,871), Armadale ($89,534), Kew ($86,430), Malvern/Glen Iris ($85,344), Surrey Hills/Canterbury ($82,897), South Yarra ($81,799) and Hawthorn ($80,851).
Which Melbourne suburbs have the lowest average incomes listed in the ABS data?
The article lists Melbourne's lowest 10 average-income suburbs as: Doveton ($33,014), Broadmeadows ($33,243), Meadow Heights ($34,260), Clayton ($34,738), Noble Park ($35,104), Campbellfield/Coolaroo ($35,266), St Albans ($35,565), Dandenong ($35,649), Lalor ($35,939) and Thomastown ($36,501).
What regional Victorian areas have relatively high average incomes according to the ABS estimates?
Outside Melbourne, the article highlights higher average incomes in regional Victoria such as Newtown (Geelong) at $56,512, Woodend (Macedon Ranges) at $50,960, Torquay $48,553, Geelong $48,528 and Traralgon $48,344.
What was the average income for Victoria overall and how does it compare with the national average?
The article states Victoria's average income was $47,623, which is slightly below the national average of $48,530 reported in the same ABS release.
What data source and year did the ABS use to estimate personal incomes by suburb?
The ABS National Statistics Centre used 2010 data from the Australian Taxation Office to produce the new estimates of personal income, breaking down income by wages and salary, investment and superannuation, as noted by director Lisa Conolly in the article.
Does the ABS data show any notably low-income areas in Victoria outside Melbourne?
Yes. The article highlights French Island as having Victoria's lowest average income at $24,585 per person, lower than many listed regional and metropolitan areas.
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