Sydney's Millionaires' Row: Where the Top 1% Earn Millions, and Where They Don't

Sydney's Income Divide: A Suburb-by-Suburb Breakdown Sydney, Australia – A recent analysis by The Sydney Morning Herald reveals a stark income disparity across Sydney's suburbs. The study, based on Australian Bureau of Statistics data from the 2021-22 financial year, examined the average income of the top 1% of earners in various areas. The results paint a picture of significant economic inequality. In affluent harborside suburbs like Bellevue Hill, the top 1% of earners averaged a staggering $7.5 million annually. This contrasts sharply with suburbs like Wentworth Point, where the top 1% averaged approximately $390,000. The data highlights the vast difference in wealth distribution across the city. "The figures show a clear concentration of high earners in certain areas," said a spokesperson for The Sydney Morning Herald. "This disparity reflects broader economic trends and underscores the need for further investigation into income inequality in Sydney." The analysis focused solely on personal income, excluding assets such as property and shares. This approach provides a clearer picture of income earned through employment and other sources, rather than overall wealth. The data offers valuable insights into the economic landscape of Sydney and its diverse communities. Further research is needed to understand the root causes of this significant income gap and to explore potential solutions to promote greater economic equality.