For the first time on record, Sydney’s population grew by more than 100,000 people in one year, according to data released today by the Australian Bureau of Statistics (ABS).
The population of Sydney, Australia, has augmented by a net total of 100,000. Last year, it was reported that 18,000 residents of Sydney had left the town in order to make room for immigrants from all over the world. The rising prices of housing and basic amenities is the underlying reason behind locals leaving Sydney.
Also, due to high number of immigrants, the average salaries have depleted, leading to further destabilization of the labour market. Most locals who left Sydney headed straight for Melbourne.
Leith van Onselen, the chief economist with MacroBusiness said, They’re pushing people out.‘’ He also said, “The cost of housing in Sydney has obviously gone through the roof, it’s one of the most expensive places to live in the world. A lot of younger people especially can’t afford to live there anymore, so they’re being forced to leave,” Mr van Onselen said.
