Ascot has long been known for its prestige. With its wide, tree-lined streets, grand Queenslander homes and proximity to the racecourse, Ascot has long held its place as one of the city’s most expensive suburbs. Now, new income data confirms what locals have already known — Ascot is firmly entrenched as one of Brisbane’s richest neighbourhoods.
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According to official personal income data from the Australian Bureau of Statistics, the top 1 per cent of earners in Ascot are taking home incomes far above the city average. The average income across Brisbane is just under $72,000, but in Ascot, that average climbs to more than $132,000. And for those at the top, it’s far higher.
The top 1 per cent in Ascot are earning well into the multi-million-dollar range each year—money that doesn’t just come from salaries, but from business profits, investments, and rental income. This group includes people running successful companies across construction, finance, real estate and other industries that thrive in both local and national markets.
While income data doesn’t include assets, it’s clear that Ascot’s wealth extends beyond what’s reported. The suburb has been home to some of the most expensive property sales in Brisbane’s history. Last year, a record-breaking sale saw a heritage-listed estate on Sutherland Avenue sell for $23 million, more than double what it was purchased for just two years earlier. Grand homes like these reflect not just high incomes, but significant family wealth and long-term investment.
Ascot’s charm lies in its blend of heritage and luxury. It’s a suburb with deep roots—many homes have been in the same families for generations—but it continues to attract new buyers seeking status, space, and location. Its access to private schools, leafy parks, and the Eagle Farm Racecourse adds to its appeal.
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But while the wealth is unmistakable, the income data also highlights a wider issue: the growing gap between Brisbane’s richest and the rest. The median income in Greater Brisbane is around $57,000, meaning many households across the city earn less than half what’s typical in suburbs like Ascot. The top 1 per cent across the city earn, on average, over $653,000 a year, a figure that continues to rise in elite pockets like Ascot, Hawthorne, and Pullenvale.
Today, Ascot remains a suburb where wealth isn’t always loud, but it’s deeply ingrained, from its manicured gardens to its top-end real estate. For those at the top of Brisbane’s income ladder, Ascot isn’t just a postcode—it’s a legacy.
Published 6-June-2025
