Planning a move to Sydney? You might want to reconsider

One in five Sydney residents are considering moving to another city, says a Fairfax/Nielsen poll of 986 Sydneysiders and reported in Business Spectator.

Of the respondents thinking of moving away, most blamed the high cost of living in the harbour city.

Forty per cent of those considering a move cited living costs, while 22% cited job opportunities elsewhere or a job transfer.

This trend could have negative repercussions for business operations and the job market in Sydney.

The executive director of the NSW Chamber of Commerce, Patricia Forsythe, said Sydney could not afford to lose a fifth of its workforce. “One in five is a figure that cannot be ignored,” she said. “It goes to many of the issues about which the chamber has had concern for some time.”

A separate study by the Centre of International Economics found NSW is losing jobs in the arts, with employment in creative and cultural jobs falling by 2%.