PHOTO: Australia’s two biggest cities are experiencing a downturn in house prices
They might be labelled rivals but Sydney and Melbourne have much in common. Their economies especially are increasingly aligned.
Knowledge-intensive service industries have transformed both cities over the past two decades. Each has a population around the 5 million mark.
The four largest industries by output in Melbourne and Sydney are now the same – financial services, professional services, healthcare and construction. They employ some of Australia’s most productive and well-paid workers.
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