Yes, I think Sydney is very affordable and generous to those who definitely work hard for their dosh. My money management skills were no different while I was living in Melbourne, however, Sydney is where I have prosperity/my business has taken off.
In Melbourne, I rented in the inner city, and my rent was twice as much as my mortgage on my own house in Sydney. My house is only a 20-minute train trip into the city, and it is double the size of my Melbourne house too.
In Melbourne, my credit cards were always maxed out, and this was for living expenses like food and electricity. In Sydney, I pay my cards off straight away. I just use them for convenience and rewards points.
To me, it does not make sense why Melbourne is classed the world's most liveable city. I even have friends down there (again, not to make comparisons between Sydney and Melbourne) who are struggling to find good jobs, yet they're experienced, intelligent people.
My earnings in my business is the same when I was a Lawyer in Melbourne, yet I am doing what I love as a creative person not working for anyone else here in sensational Sydney :)
Sydney, contrary to what most people think, we have it so good. Now that Sydney is in my veins, I am not moving anywhere else.