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After an initial period of extreme uncertainty, the rhetoric around the Australian property market appears to have shifted into a new phase in response to the ongoing coronavirus pandemic.

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On this episode of The nestegg Podcast, host Grace Ormsby is joined by the founder and CEO of Upside Realty, Adam Rigby, to delve into how COVID-19 has been affecting different demographics within the property sector, including renters, landlords, investors and retirees.

Adam touches on the pros and cons of potentially removing stamp duty, his predictions for marketplace trends over the coming months, and the importance of picking quality over timing when considering an investment.

Thanks Adam, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Upside Realty are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Monday, 01 June 2020

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Earn

Do you earn more or less than the average Aussie?

By Cameron Micallef · August 16 2019

Reading:

Earn

Do you earn more or less than the average Aussie?

By Cameron Micallef
August 16 2019

Reading:

Do you earn more or less than the average Aussie?

By Cameron Micallef · August 16 2019

Reading:

New figures have revealed the average weekly ordinary time earnings for full-time adults in Australia in May 2019.

New Australian Bureau of Statistics (ABS) figures show that the average Australian makes $1,643 per week.

It’s a $27 a week increase on the previous six months, equating to an improvement of 1.7 per cent, and means the average weekly pay has seen a $48 increase.

It means weekly wages have seen a 3 per cent growth in the last 12 months.

ABS chief economist Bruce Hockman noted the unique market environment that’s recently been impacting Australians’ wages.

“This latest data comes after a period of low growth in average weekly earnings, which partly reflected the growing number of lower-earning workers in the services sector, including aged care, childcare and disability care workers,” he said.

State by state

Over the past five years, average full-time earnings remained highest in the ACT ($1,811) and Western Australia ($1,780), and lowest in Tasmania ($1,420) and South Australia ($1,475).

The highest increases in average full-time earnings over the five years was seen in the Northern Territory (18.1 per cent) and Victoria (16.0 per cent), which have both recorded growth well above the average increase Australia-wide, which sits at 12.3 per cent.

Public versus private sector

The public sector has outshined the private sector, with the average public sector worker making almost $200 a week more than their private sector counterparts.

Public sector workers take home an average weekly pay of $1,785.40, in comparison with private sector employees who are taking home, on average, $1,594.70.

Highest average by industry

In May 2019, employees in the mining industry boasted the highest full-time adult average weekly ordinary time earnings across all industries.

The average mining employee’s take-home pay is $2,573.00.

On the lower end of the spectrum, the industry with the lowest earnings was the accommodation and food services industry, with the average full-time worker pocketing $1,162.40.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.