WA has never been better off, but wage growth slowing, study finds 21/12/2008 NEWS: Generic photo, dollars, cash, money, sales. WEST Australians have never been better off, but the state's incredible wage growth is showing signs of slowing, according to a new study into living costs. WA households have an extra $24,044 per annum in income after their cost of living increases compared to 25 years ago, according to the National Centre for Social and Economic Modelling (NATSEM). Compared with 2008, WA households are $10,760 better off, while the average Australian household is ahead by $4,741. But following annual growth in standard of living of 5.5 per cent over the five years to 2012, WA recorded just 0.8 per cent growth in the 12 months to this September. NATSEM principal research fellow Ben Phillips said WA had more than doubled its standard of living since 1988, well ahead of the rest of Australia. Fuelled by the resources boom, he said WA incomes had grown "incredibly" over the past six or seven years, but the growth was starting to "wane." It's difficult to complain as West Australians. Things are going very well on the back of a once in a century mining boom, but the prospects of having that standard of living growth in the coming years is very, very limited," Mr Phillips. Increases in the cost of utilities, health and education have been offset by low increases or decreases for mortgages, clothing and electronics. But the report found cost-of-living pressures do vary significantly between household types. Low-income households, such as those relying on income support or casual work, have seen their basic living costs go up faster than their incomes. Chris Twomey, of the WA Council of Social Service, said: "If you are a middle income Australian household, then chances are you have never had it so good and your income has continued to rise faster than your essential living costs. However, the same does not hold true for others in our community. So while we reflect on our own good fortune, we should spare a thought for those who are really struggling to keep up with rising living costs. Sydney remains Australia's highest cost capital city with a $4,476 per year premium compared to the cheapest city, Adelaide. Canberra and the Northern Territory have the highest standard of living, with Perth second.