Sydney ranked as second most expensive city

Updated

Sydney has been ranked the second most expensive place to live and do business in a survey that measured economic opportunity in 27 cities.

The PricewaterhouseCoopers' Cities of Opportunity report placed Sydney 11th overall, with high scores for sustainability and liveability.

Sydney was ranked as the second most expensive city, behind Tokyo.

In the areas of transport and infrastructure, Sydney finished ahead of only Los Angeles, Johannesburg and Sao Paulo.

The Sydney Business Chamber's Patricia Forsythe says the harbour city has been let down by a lack of investment in infrastructure over the past decade.

"Sydney is a great city, but we do have to note that this year we've dropped from number six in this survey to number 11," she said.

"And it is clear that on issues around transport and cost of housing and cost of doing business in the CBD that we are slipping."

But she says it is not all bad news.

"Sydney is an expensive city in terms of cost for business and cost of housing," she said.

"The good news I think is that the Government is focused on a review of the planning system.

"Certainly at this time I think we're paying the price of not investing in infrastructure to the extent that we should have in the past decade."

Topics: economic-trends, business-economics-and-finance, population-and-demographics, sydney-2000, nsw, australia

First posted