Victorians are officially leading the pursuit of happiness.

For the first time, a major nationwide study has found 94% of us are ranked high or very high on the scale of happiness.

Things that contribute to us being happy to include owning our home and getting a good nights sleep.

The Health Department’s Victorian Happiness Reports also found that exercising and maintaining our overall health level are also important indicators of wellbeing.

7,500 people were interviewed thoroughly to paint the picture of the wellbeing of Victorians.

The most interesting part of the research is, that individuals who binge drink once a year is happier than people who do not drink at all.

One thing that is settled in the report is the old question of does money make us happier? Well, subjectively, once your income tops $40,000, the amount of money makes no difference to our wellbeing.

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Only 5 per cent of Victorians reported low or very low subjective well-being and this was linked to psychological distress, a lack of social support, civic distrust and poor overall health.

The report argues that keeping people happy was closely linked to keeping people happy, too!