Businesses are losing employees because it is too expensive to live in Sydney, new research has shown. 9News
has released analysis showing in 82 of Sydney's 2019 residential postcodes, a single tenant needs to be making at least $100,000 a year to avoid being in housing stress.
For those within five kilometres of the CBD, that figure rises to $117,000, well above the NSW average income of $97,604 for a full-time worker.Housing stress is defined as spending more than 30 per cent of income on rent or a mortgage.
There should also be more medium-density housing like terraces, townhouses, dual occupancy and low-rise apartments across the state, the body claims.
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