Surprising everyone, Ashburton, a small mining town in Western Australia, has been named the richest town in the country. Despite its tiny size, it outperforms elite coastal areas like Sydney’s Eastern Suburbs in average income, thanks to the thriving mining sector.
Ashburton: A Hidden Gem of Wealth
Ashburton, located in the Pilbara region of Western Australia, is not your typical wealthy area. With a population of just 13,000 people, it’s easy to overlook this small town. But it has recently emerged as the richest town in Australia, with an average income of $112,881, almost double the national average of $58,216, reports Yahoo Finance.
The driving force behind Ashburton’s surprising prosperity is the mining industry. The town is part of the larger Pilbara mining region, which is home to some of the world’s largest iron ore deposits. Tom Price, Onslow, and Pannawonica are all part of the region, contributing to the town’s booming economy. According to ABS data, about 66% of Ashburton’s workforce is employed in mining-related jobs, which keeps unemployment rates low and wages high.
Mining Industry: The Backbone of Ashburton’s Wealth
Mining towns like Ashburton may seem small, but their influence on Australia’s economy is significant. The high-paying mining jobs in Ashburton far outstrip those found in many urban areas. For instance, workers in mining-related roles often earn significantly more than their counterparts in other industries. This concentration of wealth in a small town means that, on average, Ashburton’s residents are well above the national wage median.
Interestingly, the wealth generated in Ashburton puts it ahead of even some of Australia’s most well-known affluent areas. For example, Peppermint Grove in Perth, one of the nation’s wealthiest suburbs, has an average income of around $104,000, significantly lower than Ashburton’s. Even North Sydney, an iconic, high-income area, pales in comparison to the mining town’s earnings.
The Economic Impact of Mining Towns
While Ashburton’s wealth is undeniable, it does come with its own set of challenges. The transient workforce, driven by the ever-changing demands of the mining industry, can make it difficult for these towns to maintain long-term, stable growth. The influx of workers, many of whom come to fill temporary roles, means that local communities are constantly shifting. This can make it harder to establish a stable, long-term community identity.
Moreover, the reliance on mining also means that environmental concerns and economic instability are ever-present risks. As the global demand for resources fluctuates, towns like Ashburton may feel the sting of industry volatility. However, for now, Ashburton’s wealth remains firmly linked to the mining boom in Australia.
Other Mining Towns on the Rise
Ashburton’s success is not unique. Other mining towns around Australia are seeing similar rises in average income. Roxby Downs in South Australia, driven by the Olympic Dam mine, comes in second place with an average income of $106,845. Weipa in Queensland, Port Hedland, and Karratha in Western Australia also make the list of wealthiest areas, proving that mining towns are not only holding their own but are often outperforming traditional urban hubs in terms of income.
These areas, despite being small or isolated, are beacons of prosperity in a country where large cities often dominate the wealth rankings. And with demand for resources continuing to surge, it’s likely that other small towns will follow suit, using their local industries to boost average incomes.
What This Means for Australia’s Economy
Ashburton’s rise to the top of the wealth charts shows the power of mining in Australia’s economic landscape. For those who live and work in these areas, the economic benefits are clear. But for the rest of the country, Ashburton’s wealth highlights the divide between resource-dependent regions and the more traditionally affluent urban centers.
This shift in wealth distribution could reshape how Australians view economic success and prosperity. While coastal cities may still hold sway in terms of property prices and lifestyle, mining towns like Ashburton prove that there’s more to wealth than just location.
