Michael Yardney /

[Podcast] The Growing Income Divide: Inner and Outer Suburbs in Australia, with Ross Elliott

[Podcast] The Growing Income Divide: Inner and Outer Suburbs in Australia, with Ross Elliott
View all Michael Yardney Podcast episodes and subscribe via your favourite player:

In today's show, my guest Ross Elliot and I discuss the widening income disparity between Australia’s inner and outer suburbs.

In recent years, this issue has become more pronounced, with the income gap between the two areas continuing to grow. My Podcast #446

In this episode, we will explore the causes and consequences of this trend, and discuss potential solutions to address this pressing issue.

The growing income divide and what to do about it

Australia, like many other developed countries, has been grappling with a widening income disparity between its inner and outer suburbs.

In recent years, this issue has become more pronounced, with the income gap between the two areas continuing to grow.

Today Ross Elliott and I explore the causes and consequences of this trend.

Ross is the co-founder of Suburban Futures and has 30 years of experience in the property and urban development industry, including a number of national leadership roles for the Property Council of Australia and the Residential Development Council He’s been highly regarded as a thought leader in urban development policy.

The team at Suburban futures dug into the Census statistics to track median household and individual incomes in our capital cities.

  • The findings show that inner city areas have experienced a complete turnaround and are home to some of the wealthiest people in the city.

What’s causing the widening income gap between the inner and outer suburbs?

  • The widening income gap between the inner and outer suburbs can be attributed to several factors.
    • The increasing cost of living in inner-city areas.
    • The concentration of high-paying jobs in inner-city areas.

What are the consequences of the widening income gap? Income

  • In the short term, the gap leads to social exclusion and a lack of economic opportunities for low-income families living in outer suburbs. This can create a cycle of poverty that is difficult to break.
  • In the long term, the widening income gap can also have significant economic consequences.

What can be done about this?

  • The income gap will have to be addressed with a multi-pronged approach.
    • Investment in infrastructure and public services in outer suburbs,
    • Education and training opportunities,
    • Incentives for businesses to create jobs in these areas.
    • Policies that address the concentration of high-paying jobs in inner-city areas and work to distribute more equitable opportunities across the city.

In conclusion, the widening income disparity between Australian inner and outer suburbs is a significant challenge that requires urgent attention from policymakers. Lower Income Earner

Without a concerted effort to address this issue, we risk creating a society that is increasingly divided and unequal, with significant economic and social consequences.

By taking a holistic approach and investing in the future of all areas of the city, we can create a more inclusive and prosperous society for all Australians.

Links and Resources

Michael Yardney

Ross Elliott – subscribe to Ross’ blog – The Pulse

Read Ross Elliott’s blogs on Property Update here

Get the team at Metropole to help build your personal Strategic Property Plan Click here and have a chat with us

Get your bundle of free eBooks and reports at www.PodcastBonus.com.au

Some of our favourite quotes from the show:

“Gentrification has changed the look of our inner cities.” – Michael Yardney

“If you’re in a peer group of more affluent people, you’re more likely to go to university, to have degrees.” – Michael Yardney

“Our poor are still better off than the rich in many other countries, but that doesn’t mean we should have a widening inequality.” – Michael Yardney

PLEASE LEAVE US A REVIEW

Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

icon-podcast-large

Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.

icon-email-large

Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.


No comments
Copyright © 2024 Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts