The Australian Bureau of Statistics (ABS) survey puts Sydney residents as the richest in the country.

The ABS report also shows the north shore suburb of Mosman and Woollahra in the east on top of suburban areas across the nation based on a measure of annual income (wages and salaries, superannuation and annuities, and income from investments and unincorporated businesses). Perth's suburbs of Peppermint Grove and Cottesloe rank third and fourth.

Based on the survey, Mosman residents averaged $131,606 in income in in the financial year 2007 – 2008. Residents in Woollahra followed with $116,376, Peppermint Grove with $100,075, Cottesloe with $98,219, and Sydney's Hunters Hill with $95,027.

Melbourne has Prahran as the wealthiest suburb due to an average income of almost $50,000 a year. Brisbane has Ascot and Hamilton on top due to the average incomes of $84,766 and $84,759 respectively.

The ABS saw an overall annual growth of 8.7 percent in personal income from financial years 2003 - 2004 to 2007 – 2008. Investments made 14 percent, the highest average annual growth rate and wages and salaries increased 8.7 percent. The report also noted income from business increased on average by 5.6 percent between 2003 - 2004 and 2007 – 2008.

Outside the urban areas, the mining regions of Western Australia, Queensland and South Australia were found to have the highest average incomes.