NEWTOWN has retained its Victorian title as the area with the highest average income for its residents outside of Melbourne, according to a new report.
The Australian Bureau of Statistics (ABS) report also ranked Torquay and Geelong in the top five for regional Victoria, all above the state average of $51,398.
With an average total income of $61,412, Newtown also recorded an annual growth rate of 4.8 per cent from 2005/2006 to 2010/2011.
Torquay recorded a high average total income of $52,996, a 5.8 per cent increase. Geelong’s was $52,436, an increase of 4.6 per cent.
The local areas were among 27 per cent of Victorian suburbs to record total incomes above the state average.
ABS sourced its suburban income information from Australian Tax Office setting out the number of income earners and amounts they received from various sources.
Melbourne’s Toorak recorded the highest average total income in Victoria, $150,548.
Kerang ($31,997) and Maryborough ($32,904) recorded the lowest annual average income levels in Victoria for 2010/2011.
The report indicated residents in Australia’s cities recorded significantly higher incomes than counterparts in regional Australia.
The highest-paid regional workers were in the Western Australian mining centres of Karratha and Port Hedland where average earnings were $86,826 and $86,079 respectively.
