Who's the breadwinner? In Perth, it's probably your house
Perth is the only place in Australia where houses earned more than people, with average prices surging by $95,022 over the past year – climbing from $812,482 to $907,504.
Ray White Group senior data analyst Atom Go Tian said Perth residents seemed to have the best of both worlds.
'Not only do they earn the second-highest annual income across the country, but their houses made the biggest gains in the last 12 months,' he said.
'Even Canberra with annual incomes of $93,351 couldn't match what Perth houses made.'
Tian said in Adelaide it was neck and neck with both annual personal income and house price growth sitting at just over $63,000. Brisbane homeowners were just keeping their noses in front, earning roughly $2000 more than their houses appreciated.
'However, the gap widens from here with Melbourne and Canberra having the greatest disparity between personal income and house price growth,' he said.
'Melburnians made 5.5 times more than their properties, while Canberrans pulled in five times what their houses did.'
At a suburb level Perth dominated the list of suburbs where houses earn more than people. Carabooda-Pinjar, which has a median house price of $1.58 million, recorded the largest difference between annual house price gain and income with a net positive increase of $95,272. It was closely followed by Nedlands-Dalkeith-Crawley ($93,000), City Beach ($80,514) and Claremont ($63,293).
'Even among Perth's strongest performers, house prices remain relatively accessible compared to Sydney and Melbourne,' Tian said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sydney Morning Herald
14-06-2025
- Sydney Morning Herald
‘Tremendous growth': Melbourne's prestige suburbs outperforming the rest
Prestige middle suburbs with leafy streets, good schools nearby and a strong community feel have boosted demand in Melbourne's property market, helping these areas outperform many inner-city neighbourhoods in price growth. Among Melbourne suburbs that have a median house price above $2 million, Balwyn North recorded the highest growth in median house price across a five-year period to the end of March. It climbed 26.4 per cent to reach a median of $2.25 million, according to Domain data. It was followed closely by neighbouring Surrey Hills, which grew 26.3 per cent to a median of $2,195,000. Rounding out the top five were Eaglemont (24.5 per cent), Hampton (24.4 per cent) and Black Rock (23.8 per cent). Despite this growth, Ray White group chief economist Nerida Conisbee said Melbourne's prestige property sector has lagged other states. 'Luxury suburbs in some places like Perth have seen three or four times that rate of growth. South-east Queensland is quite similar. So even though Melbourne has seen growth, it's fairly lacklustre at the top end,' she said. 'Melbourne lost quite a few people to other parts of the country ... South-east Queensland in particular was the key beneficiary of population movement particularly amongst wealthier Melburnians.' Still, middle-ring suburbs such as Balwyn North and Eaglemont have outshone inner-city postcodes including South Yarra and Brighton. 'Places like Balwyn, North Hawthorn, East Camberwell, Hawthorn all have really good access to some of Melbourne's best schools,' Conisbee said.
Sydney Morning Herald
14-06-2025
- Sydney Morning Herald
‘Close to water': Sydney's prestige suburb outperforming the rest
Five of Sydney's priciest suburbs, all known for their proximity to water – whether that be direct waterfront or with expansive water views – have performed best for price growth over the past five years. Among Sydney suburbs with a median house price of $4 million or more, Bellevue Hill recorded the highest median house price growth over the five years to end of March, climbing 71.1 per cent to $9,625,000, on Domain data. Bellevue Hill was followed by Northbridge, with a median house price of $5,160,000 and growth of 68.1 per cent. The remaining top five spots were taken by Mosman, which rose 63.9 per cent to $5,373,500; South Coogee, up 62.1 per cent at $4,400,000; and nearby Coogee, up 60.8 per cent over five years to $4,325,000. Rounding out the top 10 were North Bondi (up 46.2 per cent), Woollahra (up 44 per cent), Hunters Hill (up 40.8 per cent), Vaucluse (up 39.9 per cent) and Manly (up 37.6 per cent). Ray White Group chief economist Nerida Conisbee said interest rates being 'so low' during COVID was a reason for luxury property to perform well over the five years. 'We tend to think of super wealthy people not using borrowing to buy homes, but a lot of them would have because when you can borrow at an extremely low-interest rate, it makes sense to borrow money and then invest your cash,' she said. 'So, not all of those areas are on the beach, obviously, but a lot of them are quite close to water. So that was also a significant trend; that when people were locked down, they did want to be in places that were walkable, close to water, in a really pleasant environment.' High interest rates had led to a softening of the luxury property market, Conisbee said.
The Age
14-06-2025
- The Age
‘Close to water': Sydney's prestige suburb outperforming the rest
Five of Sydney's priciest suburbs, all known for their proximity to water – whether that be direct waterfront or with expansive water views – have performed best for price growth over the past five years. Among Sydney suburbs with a median house price of $4 million or more, Bellevue Hill recorded the highest median house price growth over the five years to end of March, climbing 71.1 per cent to $9,625,000, on Domain data. Bellevue Hill was followed by Northbridge, with a median house price of $5,160,000 and growth of 68.1 per cent. The remaining top five spots were taken by Mosman, which rose 63.9 per cent to $5,373,500; South Coogee, up 62.1 per cent at $4,400,000; and nearby Coogee, up 60.8 per cent over five years to $4,325,000. Rounding out the top 10 were North Bondi (up 46.2 per cent), Woollahra (up 44 per cent), Hunters Hill (up 40.8 per cent), Vaucluse (up 39.9 per cent) and Manly (up 37.6 per cent). Ray White Group chief economist Nerida Conisbee said interest rates being 'so low' during COVID was a reason for luxury property to perform well over the five years. 'We tend to think of super wealthy people not using borrowing to buy homes, but a lot of them would have because when you can borrow at an extremely low-interest rate, it makes sense to borrow money and then invest your cash,' she said. 'So, not all of those areas are on the beach, obviously, but a lot of them are quite close to water. So that was also a significant trend; that when people were locked down, they did want to be in places that were walkable, close to water, in a really pleasant environment.' High interest rates had led to a softening of the luxury property market, Conisbee said.
