Australia has a new richest postcode for the first time in seven years.
The postcode that's home to Palm Beach on Sydney's Northern Beaches has dethroned the one containing Edgecliff, Darling Point and Malcolm Turnbull's Point Piper residence in the city's eastern suburbs, according to Australian Taxation Office statistics released late on Thursday.
The 1,279 tax filers in Palm Beach's 2108 postcode reported an average income of $230,330 for 2016/17, while the 6,089 tax filers in Edgecliff's 2027 postcode made an average of $187,769.
Postcode 2027 had ranked as Australia's highest earning postcode since 2009/10, but in 2016/17 it also ranked behind Melbourne's 3142, where the 10,044 filers in Hawksburn and Toorak made an average of $193.904.
