The latest in Bankwest's on-going Social Indicator Series, the "Toy Treasure Trove" Report also shows Australian kids are asset rich with toys worth an average of $2,079 - and they keep getting richer.
Western Australian parents have the deepest pockets nationally, shelling out $684 in toys this year compared to spendthrift New South Wales mums and dads who are "only" willing to outlay $546.
Nationally parents are prepared to spend up to $289 on a single toy - with WA parents again digging deeper, shelling out $351 for a single toy, while NSW parents put a brake on spending at $248.
"Australian kids rooms are veritable Aladdin's Caves when it comes to toys and games and that's set to continue as parents buy up big for Christmas this year," Bankwest spokesman Andy Weir said.
"And while it looks like the worst of the Global Financial Crisis may be behind us, just over half of parents (55 per cent) say they plan to reduce their spending on toys this year, including 16 per cent who plan to reduce toy spending 'a lot'."
Mr Weir also said the report plotted an interesting change in parent's attitude towards buying toys throughout the year.
"In years gone by most children only expected to receive toys at Christmas or their birthdays, but 'Toy Treasure Trove' shows that 52 per cent of Australian parents now buy toys for their children throughout the year regardless," Mr Weir said.
"Interestingly, the report also shows that many parents use toys as an inducement to modify their children's behaviour, with one in three mums and dads saying they buy toys to reward better school performance."
Download a copy of the full report and a breakdown on each state below:
- Toy Treasure Trove Report National
- Toy Treasure Trove Report NSW
- Toy Treasure Trove Report VIC
- Toy Treasure Trove Report QLD
- Toy Treasure Trove Report WA
- Toy Treasure Trove Report SA
