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Why is Sydney a popular place to live in?

  • October 25 2019
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Invest

Why is Sydney a popular place to live in?

By Louise Chan
October 25 2019

INFOGRAPHIC: There’s no denying that Sydney is home to one of the most picturesque harbours in the world. In fact, millions of tourists find their way to the Sydney Harbour and the Sydney Opera House each year to enjoy the view and culturally diverse activities.

Sydney harbour

Why is Sydney a popular place to live in?

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  • October 25 2019
  • Share

INFOGRAPHIC: There’s no denying that Sydney is home to one of the most picturesque harbours in the world. In fact, millions of tourists find their way to the Sydney Harbour and the Sydney Opera House each year to enjoy the view and culturally diverse activities.

Sydney harbour
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But Sydney isn’t only popular for its beauty — the sprawling state capital of NSW boasts great things when it comes to improving its population’s livelihood.

Here are some of the reasons that has allowed Sydney to maintain its status as one of the best cities in the world to live in.

Affordable public transport

According to the Australian Bureau of Statistics (ABS), Sydney is Australia’s most populated city, with an estimated population density of 400 people per square kilometre.

Naturally, moving this large population around is crucial to keeping the city’s economy thriving – and this is where Sydney’s comprehensive public transport network comes in.

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Sydney’s public transport in the world is among the most affordable in the world.

Poor traffic
The downside for Sydneysiders is that the city usually suffers from poor traffic, with volumes typically reaching its peak during the summer season.

Low unemployment rate

According to the ABS labour force survey and Centrelink data, Sydney’s unemployment rate is at 2.46 per cent for the March 2019 quarter. This is well below the national average, which is at 5.1 per cent.

The 2019 census reveals that among the 171,427 local resident workers, 47.8 per cent are professionals and managerial-level workers. The remaining 52 per cent include clerical, administrative, community and personal service, sales, technicians trade and other skilled labourers.

Best for job opportunities

Sydney’s low unemployment rate is most likely influenced by the host of job opportunities that workers may choose from – and it’s not just Sydneysiders. The city’s sprawling economy paves the way for businesses to succeed and expand and opens more employment opportunities for Sydneysiders and migrants.

High cost of living
Sydney’s sprawling economy also has its downsides, particularly in the cost of living.

Despite high income-earning opportunities, Sydney’s cost of living is one of the highest among other Australian cities – and it doesn’t help that property values are just as high.

Best for beach lovers

When it comes to leisure activities, especially of the beach variety, Sydneysiders have easy access to over 100 beaches.

 

 

Why is Sydney a popular place to live in?
Sydney harbour
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About the author

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Louise is a content producer for Momentum Media’s nestegg who likes keeping up-to-date with all the ways people can work towards financial stability in 2019. She also enjoys turning complex information into easy-to-digest, practical tips to help those who want to achieve financial independence.

About the author

Louise is a content producer for Momentum Media’s nestegg who likes keeping up-to-date with all the ways people can work towards financial stability in 2019. She also enjoys turning complex information into easy-to-digest, practical tips to help those who want to achieve financial independence.

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