Housing sector experts have warned Sydney residents of a “ghettoisation”, as divergent employment, soaring inner city house values and urban infrastructure continue to envelope the harbour city.
New figures from the Tax Office showed inner city postcodes had the fastest income gains over the past decade, at the same time the poorer outer suburbs went backwards after inflation.
"In effect, the old crisis of the inner city has been substituted by a new crisis of suburbia," Professor Bill Randolph, director of the City Futures Research Centre at UNSW, told The Sydney Morning Herald.
"The centrifugal forces that spread employment and housing outwards away from city centres during the 20th century have been replaced by a centripetal force pulling economic activity and housing investment back into the centre,” he said
The top 10 richest suburbs in Sydney and their respective average individual taxable incomes are as follows:
1. Bellevue Hill - $143,112
2. Woollahra - $126,411
3. Darling Point, Edgecliff, HMAS Rushcutters, Point Piper - $177,514
4. Double Bay - $112,953
5. Dover Heights, HMAS Watson, Rose Bay North, Vaucluse - $112,953
6. Balmain, Birchgrove, Balmain East - $109,101
7. Milsons Point, Kirribilli - $109,304
8. Northbridge - $130,801
9. Mosman, Spit Junction - $137,647
10. Hunters Hill, Woolwich - $132,557
Sources: ATO, Fairfax Media
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