New data from the Australian Bureau of Statistics has revealed a significant economic milestone for the Hunter region, with two areas now recording average personal incomes exceeding $100,000. The figures from the 2022-23 financial year show a clear picture of the region's evolving wealth distribution.
The High Earners: Scone and Merewether Lead
According to the latest statistics, Scone and Merewether - The Junction have emerged as the Hunter's top earning areas, with average incomes reaching $114,760 and $106,598 respectively. The data, measured in pre-tax dollars across statistical level 2 areas (SA2), places these suburbs well above the regional average.
Newcastle - Cooks Hill followed closely behind with an average income of $99,236, just shy of the six-figure threshold. Business Hunter CEO Bob Hawes explained that recent employment trends have shown businesses increasingly seeking workers with degrees or high-level diploma qualifications.
"These jobs tend to be concentrated in the lower Hunter, particularly Newcastle and Lake Macquarie," Mr Hawes said. "These higher paid, higher skilled workers typically prefer to live nearer to the workplace and tend to draw higher average incomes to the suburbs in these nearby areas."
Median vs Average: A Tale of Two Measurements
The story becomes more complex when examining median income figures, which provide a different perspective on the region's economic landscape. Merewether - The Junction maintained its leading position with the highest median income at $69,009, but Scone experienced a dramatic drop to 39th position with a median of $55,123.
Mr Hawes noted that mining continues to support higher incomes in the Upper Hunter, while the thoroughbred industry also contributes significantly to Scone's economic profile. "Interestingly, in Scone there is significant disparity between the average and median incomes, which suggests the average is being pushed up by a minority of very high earners," he observed.
Some areas showed remarkable growth in median income over the past five years. Branxton - Greta - Pokolbin jumped from 18th position in 2018-19 with a median income of $51,847 to ninth in 2022-23 with $63,614. Thornton - Millers Forest also featured among the top median earners at $66,448.
Economic Drivers and Regional Growth
Mr Hawes identified several key sectors driving the Hunter's economic growth over the past five years, predominantly in white-collar professions that cluster around business centres and CBDs. "These growth sectors include health and social assistance - by far the fastest growing single sector, now accounting for about 20 per cent of the region's working population - education and training, visitor economy and hospitality, and finance and professional services," he detailed.
The construction sector has also experienced significant growth, particularly in the Newcastle Local Government Area. Major projects such as the John Hunter Hospital redevelopment, Newcastle Inner City Bypass, M1 extension, and the Newcastle CBD building boom have contributed to this expansion.
When examining total income by area, Merewether - The Junction demonstrated remarkable economic output, ranking second for total income despite being only 17th in population. Four SA2 areas recorded total earnings exceeding $1 billion in 2022-23:
- Charlestown - Dudley: $1.23 billion
- Merewether - The Junction: $1.13 billion
- Glendale - Cardiff - Hillsborough: $1.11 billion
- Newcastle - Cooks Hill: $1.01 billion
The data also revealed interesting demographic patterns, with Wangi Wangi - Rathmines and Anna Bay having the oldest median age of earners at 49 years, while Shortland - Jesmond had the youngest at just 31 years.
