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Australian wages on the rise

Wages are rising in Australia, particularly in the mining states, which could result in a rise in rental prices.

The Australian Bureau of Statistics (ABS) has released new figures relating to salaries in Australia, indicating that one in ten full time employees are now earning $2,364 or more per week.




This should provide encouragement to anyone thinking about buying property in Australia, as an increase in wages generally accompanies an increase in national rental prices.




Mining states such as Western Australia and the Northern Territory appear to be the most affluent, with average salaries for non-managerial workers topping $2,000 per week.




It is also in these states that the demand for housing is currently highest, with an estimated shortage of 300,000 living units to accommodate the region's rapidly growing population.




However, the ABS also reported that ten per cent of the workforce is now earning less than $740 per week, with the lowest paid employees being those whose pay is based on commission, such as sales workers.



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