Sydney tops world for livability

Sydney-beat-out-cities-like-Stockholm-and-Toronto-for-the-honour_157_72062_0_14071831_300Sydney is topping the charts in everything that makes a city a desirable place to live, according to PwC Australia’s Cities of Opportunity report.

Out of the 30 cities evaluated on a variety of social and economic factors, the Harbour City ranks first in livability and demographics, and ties for first with Stockholm for sustainability, the report says. It ranks second in health, safety and security behind Stockholm, tying with Toronto.

Sydney also placed highly for several more indicators of living standards. It was ranked third for relocation attractiveness, second for quality of living and a lack of traffic congestion, fourth for ease of commute and seventh for cultural vibrancy.

“This is the sixth annual report in the series and the first time Sydney reaches the top ten as a city of opportunity, with an overall ranking of ninth in 2014,” PwC Managing Partner in Sydney Joseph Carrozzi said.

Carrozzi added that Sydney’s rankings in transportational issues, which were high yet fell short of other cities, showed the importance of continued investment in the sector.

“The clear evidence is Sydney should stay the course on investment in transportation and transportation infrastructure. The New South Wales Government should continue their focus on pursuing a comprehensive long term transport master plan to deliver economic and community outcomes and continue the current investments in infrastructure.”

Indeed, with the City of Sydney’s $1.94 billion infrastructure package approved on May 13, along with its plan to transition toward Green infrastructure, it appears that is exactly where the city is headed.

Home buyers and investors will take heart in this news. The confirmation of Sydney’s status as one of the most livable and forward-thinking cities on the planet is sure to boost the fortunes of any buyers who have thought about entering its property market.

Meanwhile, the raising of Sydney’s profile, as well as the initiatives which have placed it so high on the rankings, are sure to push up prices in a city where property is already in high demand. Sellers and investors could well win big.

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