In November 2009, Hometrack, a residential property provider, showed that the median gross household income in some suburbs of the general Sydney area of New South Wales was:
- $76,488 Liverpool
- $83,677 Blacktown
- $66,467 Parramatta
How relevant are Household Income figures ?
After reading a report from the ABS , where I saw the following figures, it made me stop and think..
- 45.8% of LOW Income households own their own home without a mortgage.
- 30.3% of MEDIUM Income households own their own home without a mortgage.
- 26.9% of HIGH Income households own their own home without a mortgage.
The Mean disposable (net after tax) household income per week, shown in that report, for 2007-08, was:
- $409 pw LOW Income households. (55.1% of these had a principal source of income of Government Pensions)
- $692 pw MEDIUM Income households. (2.9% of these had a principal source of income of Government Pensions)
- $1,646 pw HIGH Income households.
The largest group of Australian Households in 2007-08, had a composition of:
- Couple with eldest child aged between 5 and 14
- average of 2.2 children in the household
- average of 1.6 employed people
- 14% own their own home with no mortgage
- 8% live on Government Pensions and allowances
- $769 pw is the disposable (net after tax) household income.
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Looking at the “Mean disposable (net after tax) household incomes per week, shown for 2007-08, and the average numbers of workers in those households, I calculated the following equivalent NET full time wages for each group:
$584.29 Low Income
$432.50 Middle Income
$866.32 High Income
It is a bit confusing.
Further reading of the original figures from the ABS showed the following figures:
Mean Gross Income per week
$ 331.52 Lowest quintile
$ 758.74 Second quintile
$1,286.69 Third quintile
$1,946.61 Fourth quintile
$3,922.24 Highest quintile
$1,649.26 All persons
This really does affect the above figures, emphasising how different ways of looking at things can show very different answers.