_Focus On | Sydney, the global city

Sydney continues to mature as a global city with strong investment in infrastructure and a push to increase density close to the city. Sydney is now counted as a city that matters to the ultra-wealthy. This guide focuses on living, studying and buying residential property in Sydney.

November 04, 2018

Liveability

Sydney ranked in 5th place of the World’s Most Liveable Cities in 2018. This was up from 11th place in 2017, according to the Economist Intelligence Unit, as shown in Table 1 (see full report). The index is based on 30 factors spread across five areas: stability, infrastructure, education, health care and environment.

City Wealth Index

In the Knight Frank City Wealth Index 2018, Sydney ranked 11th of the cities that matter to the ultra-wealthy. Across the four categories, Sydney performed best in the ‘investment’ category (7th) based on the annual average private investment into property over the two year period of 2016 and 2017.

The ‘lifestyle’ category also scored well (at 14th), taking in the elements of cities with the most top 100 universities, number of five-star hotels and the highest average spend—where Sydney was recorded in the top 3 with US$1,829 per overnight visitor.

In the ‘future’ category, Sydney ranked 17th for the future economic performance (GDP) measured in constant prices.

Sydney came in equal 20th, with Atlanta, in the final category ‘wealth’, based on the number of households earning more than US$250,000 in 2017. The other factor—the likelihood of the city’s growth in this price bracket by 2022.

International Visitors

The harbour is home to some of Australia’s most iconic landmarks – the Sydney Harbour Bridge, the Sydney Opera House and the Royal Botanic Gardens. International cruise ships are regularly docked including the Queen Mary II and Ovation of the Seas; boosting tourists in and around The Rocks and Darling Harbour. Sydney’s famous beaches are within close proximity to the city including Bondi and Coogee whilst Manly is a short ferry ride north.

Sydney accommodates a vast array of world renowned restaurants, art galleries, independent fashion houses and vibrant retail strips. Prominent shopping centres, such as Westfield Sydney and Westfield Bondi Junction act more as destinations than simply retail outlets—providing entertainment and restaurants in addition to the plethora of shops. Many arcades, often hidden in historic buildings, are scattered throughout Sydney. Both the Queen Victoria Building and The Strand Arcade offer a mix of boutique shops for locals and tourists.

Many international and luxury clothing brands and jewellery stores are well established along Pitt Street Mall, George Street, King Street and Castlereagh Streets. Sydney also hosts a variety of markets throughout the year with a wide variety of fresh food, clothing, gift wares with individual traders and established retail stores setting up pop-up shops. The Rocks markets are iconic with the cobblestone streets with great access to the City and Harbour. Manly markets are hosted amongst historic buildings with seaside backdrop.

The number of international visitors to New South Wales (NSW) grew 8.7%, to total 4.3 million, in the year ending March 2018. The most number of international tourists came from China (792,000), United States (494,000), New Zealand (445,000), United Kingdom (383,000) and South Korea (222,000) as shown in Figure 1 (see full report).

Compared to a year earlier, in NSW, international visitors from China grew by 12.5% in the year ending March 2018. The United States and New Zealand increased by 11% and 0.9% respectively.

Fast facts Sydney

Sydney is the state capital of New South Wales (NSW).
Australia’s largest capital city, with approximately 5.1 million residents estimated living in the Greater Sydney region in 2017.
Located on the East Coast, and covers a geographic area of 12,350 sqm.
Slightly humid, hot summers (mean maximum 26°C) and cool winters (mean average 8°C).
Most daily sunshine is nine (9) hours in the month of December.
Sydney operates under the Australian Eastern Standard Time (AEST) time zone from early April to early October each year and Australian Eastern Daylight Time (AEDT) at other times of the year.
From Sydney, current average flying travel time is approximately eight (8) hours to Singapore and Jakarta, nine (9) hours to Hong Kong and Kuala Lumpur, 10 hours to Shanghai and 12 hours to Beijing.
Sydney is regarded as Australia’s financial hub, attracting professionals from Asia Pacific and around the globe.

Download the full report