Sydney, Australia’s most populous city, is on the brink of transforming into a “city without grandchildren” as an increasing number of young families and professionals opt for more affordable living arrangements elsewhere.
According to a report by NSW Productivity Commissioner Peter Achterstraat, the period between 2016 and 2021 witnessed a significant departure of individuals aged 30-40 from Sydney, with twice as many leaving compared to those arriving. The primary driver behind this exodus is the soaring housing costs, forcing many to settle in distant suburbs and endure lengthy commutes to work.
Among those who have relocated is the Tucci family, who departed from the inner-west suburb of Leichhardt to Cairns in far north Queensland due to the unattainable cost of housing in Sydney. Despite running a successful painting business, Adrian Tucci expressed his inability to sustain a massive mortgage along with supporting his family, including his wife Nicole, a stay-at-home mother, and two children.
A new report has found twice as many people aged 30-40 are leaving Sydney (pictured) than are arriving, prompting a warning that it could become a ‘city with no grandchildren’
The trend of departing from Sydney in search of affordable housing extends beyond the Tucci family, as confirmed by Mr. Tucci’s observation of numerous acquaintances relocating to places like the Gold Coast, Adelaide, and Perth. However, this migration comes with the bittersweet realization for many, including Mr. Tucci’s parents, who support their departure but lament the distance from their grandchildren.
Mr. Achterstraat’s report underscores the urgent need for intervention by the state government to prevent the scenario of grandparents residing in Sydney without their families. He advocates for the construction of more apartment complexes in the city’s inner suburbs to alleviate property prices, emphasizing the necessity of providing housing in desirable locations.
One young family, the Tuccis (pictured, Adrian and Nicole Tucci), left the inner-west Sydney suburb of Leichhardt for Cairns, far north Queensland, so they could comfortably buy a property
While the proposal to increase building density is endorsed by the NSW Government, encountering resistance from some locals concerned about preserving neighborhood character and property values, Treasurer Daniel Mookhey emphasizes the importance of striking a balance between heritage preservation and housing accessibility. He warns of a limited timeframe, estimating five to 10 years for Sydney to address its housing crisis and avoid a scenario akin to San Francisco, characterized by entrenched intergenerational wealth.