City’s high- life suburb
CASTLE Hill’s average weekly household income has topped some of Australia’s wealthiest suburbs.
The 2016 Census data released last week revealed Castle Hill households were earning about $ 2954 on average each week.
This is more than Double Bay in Sydney which reported a weekly income of $ 2478 and the $ 2311 of Toorak in Victoria.
The Townsville suburb also only fell $ 12 short of Darling Point in Sydney – which recently was crowned Australia’s most expensive suburb by RealEstate. com. au. It had a weekly income of $ 2966.
AEC’s senior economist Matthew Kelly said there were positive aspects to the figures.
“It’s a relatively prosperous area, historically it’s done quite well,” he said.
“When you consider everything we have been through it’s probably been the worst 12 to 18 months ( in Townsville) but we’re still punting above average.
“That says something about resilience.”
Castle Hill’s average income per person over the age of 15 was $ 1308 with a family earning about $ 3387.
Some of Townsville’s poorer suburbs included Stuart, which had an average household weekly income of $ 1166, Vincent with $ 1206 and Rasmussen, which averaged $ 1265.
Mr Kelly said there were still some high- paying jobs in Townsville.
“There is a possibility that it ( household income) could in- crease across other suburbs in coming years,” he said.
Townsville’s Cr Ann- Maree Greaney, whose division includes Castle Hill, said it had some beautiful properties.
“It is great to see that we are being compared to southern states and I think it is a really good indication of where Townsville is going,” she said.
“Obviously there needs to be a balance and Castle Hill is a small pocket but it is a good indication ( of the economy).”
Cr Greaney said given the number of potential developments being considered across the region, the household income could even out across other suburbs during the next one to two years.
“You talk to people around like developers and there is a huge indication that Townsville is moving ahead,” she said.
“I think given that it ( Castle Hill) has beautiful views, it has been popular. People obviously want those views.”