Australia’s richest and poorest postcodes revealed in stunning new data

New data has revealed the richest and poorest postcodes across Australia, with one area making a shocking jump in just 12 months.

Australia’s richest and poorest postcodes have been revealed, with the Australian Taxation Office’s (ATO) latest figures showing the country’s most affluent now live in Perth after a surprising 12 month rise.

The statistics, which are compiled from the 2019-20 tax returns of more than 14 million Australians, showed Cottesloe and Peppermint Grove residents in Western Australia (postcode 6011) made a whopping $325,343 on average in taxable income.

The figure represents a staggering growth of more than 80 per cent from the 2018-19 figures, when the famous seaside spot for the rich and famous came in sixth.

It’s the first time a postcode’s average taxable income has reached $300,000, a feat made even more incredible when considering it happened during the start of the Covid pandemic.

The average taxable income of Cottesloe and Peppermint Grove residents jumped by more than 80 per cent. Picture: Supplied

The rest of the country’s top 10 richest postcodes were dominated by some of the most exclusive spots across Sydney.

Postcode 2027 (Darling Point, Edgecliff and Point Piper) came in second with an average taxable income of $205,957, postcode 2023 (Bellevue Hill) finished third with $195,204, and postcode 2030 (Dover Heights, Rose Bay North, Vaucluse and Watsons Bay) was fourth at $186,025.

Australia's top four richest postcodes based on average taxable income. Picture: ATO

Melbourne was the only other city that cracked the top 10 after Hawksburn and Toorak (postcode 3142) came in at No.5 with an average taxable income of $184,939.

Other Sydney suburbs that made up the remaining five postcodes included Mosman, Split Junction, Hunters Hill and Northbridge.

Sydney’s exclusive harbourside suburb of Point Piper is among the country’s richest postcodes.

But the same level of wealth was not shared in regional parts of the state, with NSW areas making up five of the top 10 poorest postcodes.

Postcode 2398 (Gurley), postcode 2386 (Burren Junction, Drildool and Nowley) and postcode 2405 (Boomi and Garah) made up the top three respectively.

Gurley in regional NSW is the country’s poorest postcode

These areas all had a negative average taxable income, which was likely associated with farming losses.

Postcode 2397 (Bellata, Jews Lagoon and Millie) and postcode 2873 (Albert, Five Ways, Miamley and Tottenham) were the other NSW locations featured.

The rest of the top 10 was made up of mainly rural postcodes in South Australia and Queensland, except for No.4 on the list.

Postcode 5013 in Adelaide’s north (Gillman, Ottoway, Pennington, Rosewater and Rosewater East) had a negative average taxable income of -$7906.