Sydney: second longest commute in world
Recent figures have revealed that Sydney follows behind New York in second place with the longest ...
Recent figures have revealed that Sydney follows behind New York in second place with the longest reported commute time in the world.
With Sydneysiders experiencing an average commute of 34.3 minutes one way, homeowners who live in outer city suburbs may be interested in residential property closer to the CBD.
Sydney's inner west and eastern suburbs have shown significant growth in the local property market, with an increased demand in people buying dwellings in urban city areas.
According to reports from Residex, there has be an increase in apartment rental prices close to 10 per cent over the last year, with some inner-west suburbs seeing price hikes significantly higher - indicating a growing trend of inner city migration.
Apartments in inner city Sydney suburbs have continued to show healthy figures, with some areas experiencing double digit growth.
With increasing demand in rentals close to the city, property investors may be interested in snapping up property in these sought after suburbs.
The report which was released from the New South Wales department of transport showed that Sydney commuters spend almost an hour longer on their trip to work than Los Angeles travellers, with Australia's second biggest capital Melbourne showing similar forecasts.