Why you need a $100K a year to live in Sydney
Jun 2nd 2010, 3:08 am
#1
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Why you need a $100K a year to live in Sydney
I'd say you also need a $100K income, at least, to live in Perth. That's around $1400 take home a week, I believe.
http://www.news.com.au/money/money-m...-1225874212552
NEARLY half of Sydneysiders believe they need to earn $100,000 or more to live comfortably - double the proportion just three years ago.
A new poll by the Sydney Business Chamber found 47 per cent of people now consider the New South Wales capital is a six-figure city.
In a 2007 chamber poll, just 24 per cent thought it was necessary to earn $100,000 to live well in Sydney.
In the new poll, 15 per cent of respondents said that they earned six figures. That's more than double the national percentage, with the Australian Taxation Office saying just 6 per cent of Australians had a taxable income of more than $100,000 a year.
The poll comes as new analysis of Australian Bureau of Statistics data shows grocery prices rose above the rate of inflation between March 2007 and March 2010.
Residents are paying at least $2 more a kilo for meat in Sydney as well as more for milk, cheese, bread and butter, some fruit and vegetables and tea and coffee.
A new poll by the Sydney Business Chamber found 47 per cent of people now consider the New South Wales capital is a six-figure city.
In a 2007 chamber poll, just 24 per cent thought it was necessary to earn $100,000 to live well in Sydney.
In the new poll, 15 per cent of respondents said that they earned six figures. That's more than double the national percentage, with the Australian Taxation Office saying just 6 per cent of Australians had a taxable income of more than $100,000 a year.
The poll comes as new analysis of Australian Bureau of Statistics data shows grocery prices rose above the rate of inflation between March 2007 and March 2010.
Residents are paying at least $2 more a kilo for meat in Sydney as well as more for milk, cheese, bread and butter, some fruit and vegetables and tea and coffee.
Jun 2nd 2010, 4:07 am
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Re: Why you need a $100K a year to live in Sydney
Having been here for a few weeks I'd have to agree, although I suppose you could live for less depending on what you define as a "reasonable" standard of living. I'm not even talking about buying, renting a decent place costs big bucks too.
Jun 2nd 2010, 4:11 am
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Re: Why you need a $100K a year to live in Sydney
Funny thing is though, that article says that 53% reckon you don't need $100k or more 
And ... with only 6% of Australians having a taxable income of more than $100,000 a year, then ... 94% of Australians seem to get by on less than $100,000 a year, although that is down to 85% of Sydneysiders getting by on less than $100,000 a year
And ... with only 6% of Australians having a taxable income of more than $100,000 a year, then ... 94% of Australians seem to get by on less than $100,000 a year, although that is down to 85% of Sydneysiders getting by on less than $100,000 a year
Jun 2nd 2010, 4:28 am
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Jun 2nd 2010, 4:52 am
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Jun 2nd 2010, 6:13 am
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Re: Why you need a $100K a year to live in Sydney
what a load of bollocks...depends what part of sydney??
Jun 2nd 2010, 6:21 am
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Re: Why you need a $100K a year to live in Sydney
Well considering I earn just $63k I am doing quite comfortably. I dont have a mortgage or a car, and have still had 4 international holidays in the last 3 years, as well as about 10 domestic short trips.
I have a nice place close to the train on express services, have plenty of food, paying the electricity, phone/internet and rent is never an issue and I can still afford nice luxuries like a good laptop and good clothes.
I think most of these people think they are entitled to gold plated, jewel encrusted houses and cars.
I have a nice place close to the train on express services, have plenty of food, paying the electricity, phone/internet and rent is never an issue and I can still afford nice luxuries like a good laptop and good clothes.
I think most of these people think they are entitled to gold plated, jewel encrusted houses and cars.
Jun 2nd 2010, 6:40 am
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Jun 2nd 2010, 6:41 am
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Jun 2nd 2010, 7:10 am
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Re: Why you need a $100K a year to live in Sydney
We manage on much less than that in Sydney. Family of four, only OH works. We live in a nice house (with a mortgage) in what we consider to be a nice area, we have two cars and manage fine day to day. But then we don't have children at school yet, and we don't really have what I would call expensive taste in things. We don't eat out and, for the time being, we holiday close to home. I have been thinking of going back to work at some point, but until the children are at school we will try to manage without.
Jun 2nd 2010, 7:19 am
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Re: Why you need a $100K a year to live in Sydney
I honestly cannot imagine getting by on $100k in Sydney. I am not living there yet but have been doing my research and it just does not seem possible. We could manage if we dipped into savings to see us through temporarily but we really need more than this to be comfortable I think.
Jun 2nd 2010, 7:34 am
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Re: Why you need a $100K a year to live in Sydney
I honestly cannot imagine getting by on $100k in Sydney. I am not living there yet but have been doing my research and it just does not seem possible. We could manage if we dipped into savings to see us through temporarily but we really need more than this to be comfortable I think.
Jun 2nd 2010, 7:41 am
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Re: Why you need a $100K a year to live in Sydney
Jun 2nd 2010, 9:11 am
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Re: Why you need a $100K a year to live in Sydney
Look again at littlekittykat's post....
We manage on much less than that in Sydney. Family of four, only OH works. We live in a nice house (with a mortgage) in what we consider to be a nice area, we have two cars and manage fine day to day. But then we don't have children at school yet, and we don't really have what I would call expensive taste in things. We don't eat out and, for the time being, we holiday close to home. I have been thinking of going back to work at some point, but until the children are at school we will try to manage without.
However that is pretty far from reality for most newly arrived immigrants. If littlekittykat had posted a rough figure showing the purchase price of her family's house, and a rough value of the deposit, then a clearer picture would be presented.
(in the absence of this info I'll make a stab in the dark, bought a house for $720k, homeloan of $250k).