Housing and Employment
As of September 2003, the unemployment rate in Sydney was 5.3%. As of March 2008, Sydney has the highest median house price of any Australian capital city at $550890. According to The Economist Intelligence Unit's Worldwide cost of living survey, Sydney is the sixteenth most expensive city in the world.
According to a report published by the OECD in November 2005, Australia has the most overvalued houses in the Western world, with prices 52 percent higher than that justified by rental values.
Read more about this topic: Economy Of Sydney
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