Western Sydney Residents Face Heavier Cost Burdens Than Sydney's Wealthy Suburbs
AI Summary1 min read
TL;DR
Western Sydney residents face higher costs for housing, food, and utilities than wealthy suburbs, leading to a cost-of-living crisis and lower savings.
New research from the National Institute of Economic and Industry Research reveals stark economic divides in Sydney, with western Sydney residents facing higher costs for necessities like housing, food, and utilities compared to the city's wealthier eastern suburbs. The largest discrepancies were found in housing costs, with some western Sydney LGAs spending 25% of their incomes on housing, while affluent areas spent only 17%. This results in lower savings rates and a cost-of-living crisis for western Sydney residents.
