Monday, May 28th, 2012 - Roy Morgan Research
Australians living in country areas may be rich in space, fresh air, and peaceful lifestyles, however when it comes to wealth they lag well behind city residents. The Roy Morgan State of the Nation Report 11, which includes a focus on rural Australia, shows those in the country having less wealth, lower incomes, lower home values and greater mortgage stress than city dwellers.
 
In the twelve months to March 2012, the average net wealth per person (14+) was $249,000 for those living in the country, compared with $300,000 for city residents.
 
The average income per person (14+) in the country was $39,100, compared with $44,000 for those in the city. Household incomes also mirrored this trend (country $79,700, city $99,400).
 
Although the same proportion of country and city residents (14+) have a home loan (30.1%), a slightly higher proportion of country residents (18.9%) were deemed ‘at risk’ of missing a repayment on their loan, compared with mortgage holders in the city (18.3%). Average home values were also lower in the country (country $447,000, city $642,000).


Wealth of Country and City Residents

Purchase the latest detailed Roy Morgan State of the Nation 11 Report - Focus on Rural Australia
Source: Roy Morgan Research Single Source (14+), Apr 11 – Mar 12, n= 53,256 * Nov 11 – Jan 12 n = 3,043.


Norman Morris, Industry Communications Director, Roy Morgan Research, says:
 
“Country lifestyles offer numerous advantages over city living, however wealth doesn’t appear to be one of them. People living in rural areas tend to hold a smaller amount of net wealth, are on lesser personal and household incomes, own or are paying off homes that are lower in value, and even suffer from a higher amount of mortgage stress, compared to city residents.”


The latest detailed Roy Morgan Australian State of the Nation Report 11 – Focus on Rural Australia is now available.

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Those in the country having less wealth, lower incomes, lower home values and greater mortgage stress than city dwellers.

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