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For the average worker bee I would suggest that they are at a considerable disadvantage living there with little hope of owning their own home let alone investing. I would rather have the best of both with a relatively high income and a much lower cost of living , but each to there own I suppose:)

I know many people in the 150+ income range who have turned down employment opportunities in Sydney for this exact reason, the small 20-30k pay rise for a new or similar role just doesn't stack up unless you want to become a renter. Some actually commute from BN