Once every five years we get an update into the living biography of our nation – the national Census that reveals who we are and how we lead our lives. This information gives us insight to help plan and prepare for our future.
So what are we learning from this census? Well preliminary results came out earlier this year in April, but we now know there’s 24.4 million of us – that’s an increase of 1,894,175 since the 2011 census. It sounds like a lot but we’re still outside the top 50 most populous countries in the world despite being number six in the world for our land area.
As for the so-called Sydney vs Melbourne feud, Sydney comes out on top with 4.8 million people but Melbourne is not far behind at 4.4 million. NSW may be the most populous state but VIC is growing faster (11% since the 2011 census), along with ACT and WA.
Some other highlight findings we think might be useful to share:
Money, money, money
Our national median personal incomes have risen since the 2011 census from $557 to $662 per week.
|State||Median Income Per Week|
|Australian Capital Territory||$998|
|New South Wales||$664|
The ACT had the highest median personal income, NSW fourth and Tasmania at the lowest. This is an indication of the median income; a middle point in a distribution of income values. It provides a good measure to compare your own earnings against the national and state average.
We’re getting older and living longer
Our median age was 28 in 1966, 37 in 2011 and the 2016 census sits at 38 years old. This is largely due to the baby boomer generation getting older, meaning one in six of us are now over 65.
We are also living much longer than before, with people who are 85 years+ comprising 2.1% of our usual resident population.
With a longer life expectancy and many more centenarians to come, this means we need to be careful we don’t outlive our retirement savings and plan for more years ahead as 85 becomes the new 65.
On a national scale, 31% of us own home outright but more of us are under mortgage (34.5%), with the renting figure of 30.9% expected to rise.
So we’re still a nation of home owners or aspirational home owners, but housing affordability is a lingering issue particularly in Sydney.
What Makes us Who We Are
Though you might not read this in the ABS release, we conducted our own mini-census and can confirm:
- Australians love a public holiday more than any other nation.
- Shorts and thongs are an acceptable form of clothing.
- Bunnings sausage sizzle is the preferred weekend meal for Australian males.
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Disclaimer: This publication has been prepared for general information purposes only. It is not specific advice to any particular person. You should consult an authorised Align Financial adviser before making financial decisions.
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