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Sydney residents are ‘57% richer’

13 October 2015 by News Desk

family05People living in Sydney, Australia are an average 57% better off today than they were ten years ago.

A new study reveals that Sydney residents have seen disposable income per person increase by 57% between 2004 and 2014. The jobless rate is well below the national average and productivity has grown in line with the number of new jobs created.

The study by SGS Economics and Planning used 42 economic, social and environmental indicators to determine whether Sydney has become a more liveable city over the past decade. The study found 22 indicators have improved, nine are steady and 11 have declined.

Employment – For residents in Sydney’s inner-east and lower North Shore more than 40% of the city’s jobs are within a 30-minute drive at peak hour. But for those in the city’s west and south west just 5% of jobs are within a 30-minute peak hour drive. The average time it takes to find a job in Sydney has risen by six weeks during the past decade.

Environment – most indicators have improved over the past 10 years. Sydney’s water use per person has fallen and air quality has improved. Growth in greenhouse gas emissions are slowing. Health spending has increased, due mainly to the aging population.

Transport – Sydney’s transport network has improved since 2010, via a series of major infrastructure projects, but more than 80% of residents are still unhappy with the city’s transport links.

Cost of living – The main ‘downside’ of living in Sydney, as the cost of living is rising at around double the rate of other capital cities, driven mainly by increased housing costs.

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