Sydney Risks Becoming ‘City With No Grandchildren’ as Families Priced Out

Published on February 13, 2024

Sydney risks becoming “the city with no grandchildren” as soaring housing costs force 30- to 40-year-olds out, a senior government official warns. Between 2016 and 2021, Sydney lost twice as many people aged 30 to 40 as it gained, with 35,000 newcomers compared to 70,000 departures, according to a new New South Wales (NSW) Productivity Commission paper (pdf).  Soaring housing costs priced tens of thousands of young families out of Sydney for homes in regional NSW and beyond. Productivity Commissioner Peter Achterstraat said without action, Sydney could be known as “the city with no grandchildren.” “Many young families are leaving Sydney because they can’t afford to buy a home. Or they can only afford one in the outer suburbs with a long commute,” he said. ...

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