Paying a premium on paradise
ABS residents (that’s ‘anywhere but Sydney’…) can roll out their ‘told you so’ dance after a new study found that the Harbour City has the 6th least affordable housing in the world. The study for the Committee of Sydney found that the city’s housing crisis is costing its economy more than $10 billion annually. A lot of that is due to lost productivity due to commuter travel times and businesses struggling to attract/retain talent. Sydney’s median property price has surged to 13.3 times the median income, and a third of renters are in housing stress as the limited supply of rentals keeps prices high. As for the hot spots that are even less affordable than Sydney, that’s Hong Kong, San Francisco, Singapore, Vancouver and Tel Aviv.
Know someone who'd be interested in this story? Click to share...
The Squiz Today
Your shortcut to being informed, we've got your news needs covered.
Also Making News
Get the Squiz Today newsletter
Quick, agenda-free news that doesn't take itself too seriously. Get on it.