Beachside and country surprise: Hunter's wealthiest suburbs revealed

The Australian Tax Office's recently released taxation statistics for the 2021/22 financial year also shows the prestigious 2291 postcode - made up of Merewether, Merewether Heights and The Junction - had the highest average income in the region by far at $104,300, up 30 per cent in the last five years.

Although the inner-city 2300 postcode - which includes Cooks Hill, Newcastle East and Bar Beach - had the city's second-highest average income ($94,500).

Its five-year increase of 20 per cent was on par with the average across Newcastle's postcodes.

Incomes in Mayfield ($62,700), New Lambton and New Lambton Heights ($81,500), and Adamstown and Adamstown Heights ($72,700) all saw growth above the average, rising up to 25 per cent.

Western Sydney University professor of economic geography and Lower Hunter resident Phillip O'Neill said for an area often classified as "regional Australia" by the government, the Newcastle-Hunter region showed more characteristics of a major Australian Eastern Seaboard metro growth area, "but without the government investment it deserved".

"The data shows the ongoing gentrification of the inner and eastern side of Newcastle, particularly in places like Adamstown, Mayfield and Cooks Hills, which began this process 20 years ago," Professor O'Neill said.

"The recent Merewether property price increases have been quite astonishing. They seem to have broken and jumped to Sydney prices, there's not too many other places you could say that."

Newcastle is also home to the suburb with the lowest average income. Callaghan, which hosts the University of Newcastle campus, has an average income of $20,800.

In Lake Macquarie, the 2282 postcode was the wealthiest region. Home to Warners Bay, Eleebana and Lakelands, its average income is $75,400, an increase of a quarter in five years.

The average wage in Charlestown, Gateshead and Redhead is $74,100, an increase of almost $16,000 in five years, while Swansea, Caves Beach, Blacksmiths, Catherine Hill Bay ($67,200) also saw above average growth.

Toronto, Rathmines, Coal Point, Blackalls Park, Fennell Bay ($68,900) increased by almost 25 per cent, as did Speers Point, Boolaroo, Teralba, Booragul and Argenton ($66,100).

There has been no shortage of work in the construction and trade sectors, which make up a large portion of the working population in Lake Macquarie.

"A lot of the traditionally working-class suburbs that are in good locations or seeing new greenfield growth, those people have probably shared the construction driven economic growth in the Hunter," Professor O'Neill said.

The lakeside suburb of Wangi Wangi saw average income increase by 31 per cent, while Windale was among the state's lowest average income ($42,700).

Scone had the region's second-highest average income at $97,000, increasing 70 per cent or more than $40,000 in five years. During the 2016/17 financial year, much of the 2337 postcode would have been in the grips of a severe drought.

Maitland and its surrounding towns such as Thornton, Beresfield, Chisholm and Hexham saw a 20 per cent increase ($64,600), as did the nearby growth areas of Branxton and Rothbury.

It's an area Professor O'Neill fondly labelled "the nappy belt", because it attracts young career-orientated couples looking to start families

"The greenfield housing is attracting tradies and dual income young professionals, who often have a higher income than previous residents," he said.

"They've driven the major increase in the spending power of the area, and as a consequence places like Green Hills shopping centre is booming."

In Port Stephens, the 2318 postcode - which covers Medowie, Salt Ash, Williamtown and Fullerton Cove - had the highest average income ($65,800), increasing almost $11,500 in five years or roughly 20 per cent.

The beachside suburbs of Nelson Bay, Fingal Bay and Shoal Bay ($61,400) also saw a 20 per cent increase.