Population growth and the desire to live in large cities has overwhelmed city landscapes all over the world. This is particularly the case in Australia. Majority of the population is continuing to choose to live in our capital cities. Dealing with that population growth is not easy but some cities are doing better than others.
Distance plaguing a poorly built city
It is not news that Sydneysiders are struggling to live in the inner city at an affordable price. Data obtained last year through research group finder.com.au, found that Melburnians were able to live closer the CBD than were the residents of Sydney for the same money. Living closer to the city reduces the discomfort of lengthy commute times.
The chair of architecture from Western Sydney University, Chris Knapp said the city’s CBD was one of the most beautiful in the world, but it made Greater Sydney lopsided.
“If you were going to build a city from scratch for eight million people, you wouldn’t build Sydney the way it is,” Professor Knapp said.
“The Sydney CBD’s exquisite geographic placement on the harbour is wonderful — once you get there. Many people also have to reach the CBD by only the Harbour Bridge and tunnel, which is logistically a nightmare and there’s huge pressure on that kind of density.”
What is the comparison?
When comparing the two largest cities in Australia, the research found that you could find houses approximately 25km from the centre of Melbourne for sale for around $800,000. At the same price point, Sydney buyers would have to travel roughly 35-40km from the CBD and experience much longer commuting times. (figures from 2018).
What this means is purchasers can achieve a much more desirable and affordable lifestyle in Melbourne when compared to Sydney.
“It’s clear that buyers in Melbourne are getting a much better deal than those in Sydney, especially for areas close to the hustle and bustle of the central business district,” finder.com.au insights manager Graham Cooke said.
Fishermans Bend – Destined to add even more value
With the major urban renewal in Fishermans Bend now underway, Melbourne is becoming an even more diverse and accessible city. This is particularly the case because Fishermans Bend is so close to the heart of the city. This is even more important given that Melbourne is soon expected to bypass Sydney to become Australia’s largest city. The Fishermans Bend Urban Renewal Project is one of a kind. It is expected that more people will leave other cities such as Sydney because of poor infrastructure and the ability to live closer to the city centre. it is not surprising that Melbourne has been experiencing the largest population growth in Australia.
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