Young families preferring a move out of Sydney

An exodus of young families from Sydney has prompted a warning the capital could become a city with no grandchildren.

Transcript

00:00 The Tucci family has swapped the metropolis for the tropics.

00:05 We just didn't want to be in debt until we were 70.

00:09 Adrian's Sydney bought and bred. Unable to afford a big enough home in his hometown,

00:13 he and Nicole have decided to raise their kids in the far north Queensland city of Cairns.

00:18 It was a difficult decision to leave family and friends.

00:21 For less than a million, the painter has bought a block of three units near the beach,

00:26 but farther from his parents in Sydney.

00:28 Ultimately they supported it, but obviously with sadness they won't get to see the grandchildren as much.

00:34 A report by the New South Wales Productivity Commission has found the harbour city is losing

00:39 twice as many people aged 30 to 40 as it gains.

00:42 They're the largest age group moving away.

00:45 If this continues, then Sydney may well become known as the city with no grandchildren.

00:51 Joe and Andy Rowe left Sydney reluctantly.

00:55 We really loved Sydney and still do.

00:58 After having their second child and failing to find a larger property within their price range,

01:03 they moved to Canberra.

01:05 A small two bedroom apartment where we were in Sydney was the price equivalent to a four bedroom house in the suburbs in Canberra.

01:13 The Productivity Commissioner says the exodus of people aged 30 to 40 is a problem for Sydney-siders

01:19 because that age group is among the most productive in the workforce.

01:23 If these productive workers leave Sydney, then it means the rest of us who stay here

01:27 are going to have to work a little bit harder to produce the same level of goods and services.

01:32 Another reason why the Productivity Commissioner says Sydney-siders should embrace higher housing density,

01:38 which he says is key to making homes more affordable for young families.

01:42 [BLANK_AUDIO]