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Where would you live if you were seriously cashed up?
One-tenth of Australians live in the most affluent suburbs.
But whereas traditionally Australia’s wealthiest areas have been confined to capital cities now, thanks to the mining boom, remote regions also have their own “rich” neighbourhoods - in mining towns of northern WA and mid-east Qld.
This info comes from the AMP.NATSEM Income and Wealth Report. The data shows definite trends. But if I was seriously wealthy I’m not sure that I’d fit any of the scenarios.
Would you up stakes if you suddenly came into money? If so, where would you build/buy your dream home?
I’d probably shift to the NSW north coast for at least half the year. But ironically the report found that the east coast of Australia, in particular northern NSW beaches (Port Macquarie and Coffs Harbour and inland) to be areas of low income.
Are you surprised to learn this? I was.
That means that those undergoing a “seachange” from
Sydney to the NSW north coast are moving into areas of lower income.
Most of the high-income areas are in capital cities. Canberra fared the best, with the fewest poorer areas and the most affluent areas of any capital city. Melbourne, Sydney and Brisbane have significant pockets of high-income areas, with buffers of moderate-income areas before the poorer areas. Adelaide has a mix of rich and poor areas. Perth has no areas in the bottom low-income bracket. Conversely Tasmania has no area in the highest income decile.
But whereas traditionally Australia’s wealthiest areas have been confined to capital cities now, thanks to the mining boom, remote regions also have their own “rich” neighbourhoods - in mining towns of northern WA and mid-east Qld.
This info comes from the AMP.NATSEM Income and Wealth Report. The data shows definite trends. But if I was seriously wealthy I’m not sure that I’d fit any of the scenarios.
Would you up stakes if you suddenly came into money? If so, where would you build/buy your dream home?
I’d probably shift to the NSW north coast for at least half the year. But ironically the report found that the east coast of Australia, in particular northern NSW beaches (Port Macquarie and Coffs Harbour and inland) to be areas of low income.
Are you surprised to learn this? I was.
That means that those undergoing a “seachange” from
Sydney to the NSW north coast are moving into areas of lower income.
Most of the high-income areas are in capital cities. Canberra fared the best, with the fewest poorer areas and the most affluent areas of any capital city. Melbourne, Sydney and Brisbane have significant pockets of high-income areas, with buffers of moderate-income areas before the poorer areas. Adelaide has a mix of rich and poor areas. Perth has no areas in the bottom low-income bracket. Conversely Tasmania has no area in the highest income decile.
Tags: goal, property, trends, wealth
Views: 0
Replies to This Discussion
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Permalink Reply by Lisa on -
I'd either stay in my area (love western river-side, Brissie!) or country - either west (Ipswich side, sshh... I love it) or the Fraser Coast... either way...QLD!
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Permalink Reply by moonbuggy on -
Ipswich!! C'mon Lisa, you have anywhere and you go for Ipswich!!! Fraser Coast I'll give you.
I'd pick anywhere near Cairns, or the Great Ocean Road. Not Ipswich ;)
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Permalink Reply by Bandwidth on -
Maybe Lisa knows something about Ipswich that you don't moonbuggy ;-)
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Permalink Reply by Miffy on -
I'll second both of them, curious!
BTW, Bandwidth, I've been to Ipswich and I'm with moonbuggy - not sure how on earth Lisa could pick that over so many other places!!! Nice park/gardens there, but not much else.
C'mon Lisa, time to defend your choice! :)
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Permalink Reply by colleen curran on -
I believe at my age, 65, moving is not as simple as it sounds. Having a nice wad of money makes it a wee bit simpler I agree, but money does not buy friends and /or companions - well not the sort we want.
I think I would remain in Melbourne with a nice escape for the colder months, maybe a tropical paradise.
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Permalink Reply by Sue on -
Hi Jill,
If you were seriously cashed up, then would you have to consider your place of employment as an issue. I mean how much is SERIOUSLY CASHED UP. If it was a case that you needed to keep working, that would obviously have to be taken into account, but if you could carry on with your business from anywhere that you had an internet connection, the WORLD would be there to choose from. In this case, I would have to go for two homes. One in the Central Highlands of Scotland ( Gods country ) and my Aussie home would be NSW/QLD with a home near rainforest and open country, but an easy drive to the beach.What more could you want with the best of everything covered, including the easy stress free lifestyle because you are all cashed up. And just for the record, that dream home doesn't have to be a huge abode, its the laughter and love that live within it that makes it a DREAM!!!!
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Permalink Reply by MoneyMagnet on -
Ah, the areas such as Northern NSW that are considered lower income areas are because of the high level of retirees there. Income levels don't take any consideration of asset ownership. Perth has a lower average age, so most people are still working there.
Statistics dont mean much unless you take the demographics also into account, such as age levels, number of retirees, asset ownership etc.
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Permalink Reply by MoneyMagnet on
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I would probably stay where I am with frequent sojourns to warmer climates. Home is where the heart is, its where the people you love are and no amount of money wil ever replace that.
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Permalink Reply by SimplySassy on -
Wow ... here I am living in the area most of you seem to want to be on the Far North Coast of NSW... I am seriously not cashed up, but bought before the boom (while working in Sydney) and now live relatively mortgage free with a young family. Simple life, simple pleasures ... 30 minutes to Byron or the Gold Coast (& international airport), 10 minutes to rainforrest, 20 to the beach!
Also for the record .. there is a heck of alot of unemployment (not just retirees) in the area as a lot of people who move here still want to be paid city wages ... in fact Byron Bay has the highest educated unemployed in Australia!!
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Permalink Reply by Sue on
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Quite the point I was trying to make in my last line. You say you are not seriously cashed up, live relatively mortgage free, simple life, simple pleasures, close to all the things you need and a young family. Assuming you are all healthy, why would you need to be any more cashed up than you are. You sound to be " well cashed up " in a lot more valuable things than money in my opinion. Congratulations to you and keep on enjoying every minute of it!!!
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Permalink Reply by Warren on -
Hear hear Sue - SimplySassy has quite the set-up, and interestingly the focus is not money! Sometimes we can lose sight of the most important things in life in our chase of the almighty dollar...
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