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He moved to Sydney in 2008 for a plumb post in the RBA graduate program, before returning to Melbourne in 2012 because of the lower cost of living in his hometown. “A few graduates have since moved outside of Sydney as well because the pay is no different, but the cost of living is a lot lower in Perth, or Adelaide, or Brisbane,” he said. “These highly skilled workers are the sort that cities like to keep, but if this trend continues Sydney could face a brain drain in the long-term.” The Director of Advocacy at the Committee for Sydney, James Hulme, agreed that a looming Sydney brain drain was a concern. He listed problems with housing affordability, transport infrastructure and Sydney’s night scene (compared to Melbourne’s) as the main issues. “We would like to see, in particular, a diversity of different housing options for people, from subsidised government housing for key workers to greater investment in the build-to-rent model,” Mr Hulme said. “It’s really important that we attract highly skilled knowledge economy jobs, as Sydney is the Australian leader in emerging fin-tech, but this relies on attracting young creatives who can afford to live here.” The traffic and long commutes put many people off living in Sydney. Picture: John GraingerSource:News Corp Australia Mr Hulme added that he was just as concerned about the loss of frontline workers, too. “We want people who serve their community in this way to be able to afford to live in their community,” he said. Mr Pickering pointed out that Sydney housing fetched a 60 per cent premium compared with the median price across other state capital cities.
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