Recent data from financial comparison site Mozo shows Canberra residents are wealthier than their Sydney counterparts, reports News.com.au.
Canberra’s householders typically have left overs of $3,271 every month for those who are earning the city’s average salary with the average mortgage repayment.
This is in contrast to Sydney dwellers that earn the city’s average salary and have average mortgage repayments. They are expected to have $1,895 left in their bank accounts each month.
“The emerald city is suffering the most, with the average mortgage repayment now taking a whopping 63% of the average after tax salary,” said Mozo director Kirsty Lamont.
“Meanwhile, Canberrans are parting with 42% of their salary, leaving the rest for expenses and lifestyle such as dining out, travel or saving for a rainy day.”
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