Sydney begins to suffer brain drain to Melbourne, Brisbane

Sydney begins to suffer brain drain to Melbourne, Brisbane, by Robert Gottliebsen.

Australia’s largest city, Sydney, is beginning to suffer skilled labour market brain-drain to Melbourne, Brisbane and regional NSW.

Sydney houses Australia’s strongest job market in media, technology and finance. And that job market has been sucking in talent from around Australia and overseas for most of the 21st century. Melbourne is stronger in other areas but Sydney has had overall pre-eminence. …

About 93,000 of Sydneysiders migrated interstate or to regional NSW in the 2015-16 financial year, according to the Australian Bureau of Statistics. Only 70,000 people moved the other way. …

With the exception of South Australians, STEM jobseekers in NSW are the most likely group to search for work interstate. …

Australian interstate migration is usually based on economic opportunity and living costs. …

Sydney is at a distinct disadvantage when it comes to living costs.

In my view, there is one simple explanation why most Sydneysiders want to leave — the high property prices and/or rents. Those living in Sydney who are not earning top salaries, or receiving other income, do not enjoy the same living standards as those who live elsewhere in Australia.

hat-tip Joanne