<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>New research has shown that poor housing accessibility and long commutes to work cost the Sydney economy about $10 billion in lost productivity.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Employers are struggling to hire and retain staff in areas where there is no affordable housing, while long commutes and high rent prices also affect people's spending habits.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Professor Philip Oldfield, Head of School at UNSW Built Environment, said those factors had ripple effects on the rest of the economy.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/sydney-legionnaires-disease-potts-point-outbreak-health/d14a97c4-5c45-448e-9fd1-2dc227b43ace" target="_blank"><strong><span>One dead after Legionnaires' disease outbreak in Sydney</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"If your rent goes up, you may be spending less on coffee, less on lunch, less on leisure, and that's going to impact small, medium, and large businesses alike," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The federal government has recently committed $10 billion to build 30,000 new social and affordable housing.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We will need to do many things. Build more homes. Build lots more social homes, convert stranded asset offices to residential, change tax and structural systems as well," he said.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/study-finds-that-housing-crisis-is-costing-sydney-10-billion-a-year-in-productivity/369221f4-46c2-4165-ae94-0002697e7ec4" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A recent study in Melbourne found that half of essential workers in the CBD live more than 20 kilometres away from their workplace.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"If your business is located in a CBD or high-amenity area, it might be unaffordable for your employees to live nearby," Oldfield said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"They may be commuting 20 or 30 kilometres, and that has real implications for retention and absenteeism."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The further people live from their workplace, the longer their commute and the less time they spend with their families or in their communities.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"That has massive implications for wellbeing and productivity."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f"><em><strong><span>DOWNLOAD THE 9NEWS APP</span></strong></em></a><em><strong><span>: Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the</span></strong></em><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727"><em><strong><span>Apple App Store</span></strong></em></a><span> </span><em><strong><span>and</span></strong></em><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1"><em><strong><span>Google Play</span></strong></em></a><em><strong><span>.</span></strong></em></div></div>