Living in Sydney can be tough on the wallet, but how does it compare to other locations around the country?
In a special two-part episode of This Arvo in Sydney, LiSTNR journalists, podcasters, and announcers from different cities come together to investigate the cost of living crisis for young people in full-time work.
Click the link below and listen the full episode:
The research has found that Australia’s youngest generations, Gen Y and GenZ, are expected to experience economic challenges compared to their parents, raising concerns about their financial future.
Housing is a significant burden in Sydney, with rents soaring to astronomical levels.
The LiSTNR panel has found that a two-bedroom unit in the inner west costs at a hefty price of $705 per week.
Most of the respondents say they have experienced increased rents or are expected to in the next year.
Sydneysiders are especially hit in the rental market, and they’re hoping for more affordable housing options in the city.
The cost of living crisis seems to affect everyone across the nation, regardless of the city they live in.
The rising prices are not limited to housing; groceries are also hitting Aussies’ wallets hard.
Recent research shows that Coles and Woolies have seen prices increase by 9.6 per cent in the past year, surpassing inflation rates.
Many panel members have had to adjust their spending habits and opt for cheaper alternatives to cope with the mounting expenses.
The panel also revealed how social activities and leisure spending have been affected, with many young Australians have cut back on weekend activities and indulged in non-essential expenses to save money.
Hosted by Sacha Barbour, This Arvo in Sydney is a 10 to 12 minute daily news podcast made just for Sydney! Listen now on the Listnr app.