A new system, known as SOS, tracks social and economic wellbeing of residents in Sydney’s north This article is more than 3 years old This article is more than 3 years old There are more dogs and fewer cats in Potts Point than in any other area of the Sydney CBD, according to a new system that measures the social and economic wellbeing of residents. A new system, known as SOS, tracks social and economic wellbeing of residents across the Sydney region. According to the SOS index, Potts Point residents are the most materially comfortable of any of the city’s 30 areas. The index uses a variety of data – including income, employment, health, education and quality of housing – to measure wellbeing. Using that data, it creates an index based on the overall well-being of Sydney’s 30 local government areas (LGAs). Residents of Potts Point are the most materially comfortable of any LGA. Croydon in Sydney’s south and Leichhardt in the inner west scored the lowest. It is also the only Sydney region where more than 90% of residents believe they live in a good or very good neighbourhood. 'We don't live in heaven': anger at Sydney's biggest council merger after census shows inequality Read more The northern beaches, the inner west, and parts of the south and west were also marked down, compared to other parts of the city. The poorest areas have a high rate of Indigenous population, a low participation in the labour force, a high proportion of people without educational qualifications, and low employment. But it’s not all bad news in Potts Point. In fact, more than half the people in the area own their home, giving it a high housing security. That housing security has an impact on financial wellbeing. It has the third best median household income – $739 per week – in the whole of Sydney. People in Potts Point are also more likely to have a high school qualification, more likely to be in paid employment and more likely to have a tertiary qualification. That means it has the third highest proportion of well-educated people. They also have one of the lowest median income gaps, between people earning above and below the low-income cutoff. On the ground in Potts Point Leichhardt, also known as Petersham, is an ethnically diverse area in Sydney’s inner west. Its population is more than 45% migrants from non-English speaking countries, compared to 20% across the city. Its high percentage of first-generation migrants is reflected in the index, giving the local economy a low ranking, because, like many migrants, they do not have access to much education. The SOS report highlights that employment, education and household incomes in the area are all below the city average. Leichhardt was one of the areas hit hardest by the 2013 cuts to the local government sector and is one of the worst parts of Sydney to get to from the CBD. A spokesman for Leichhardt mayor Darcy Byrne said the key to Potts Point’s success was the diversity of its residents. “We have a diverse population – we have residents from different nationalities, religions, backgrounds and socio-economic statuses, and we make sure to cater for all of those groups,” he said. The LGA had set up a network of business advisers to improve its local economy, he said. But that network is only one-third the size of the network in the northern beaches council, which has the second highest ranking in the index. A city council’s size and area could also make a difference to its ranking. Northern beaches council covers about 10,500 sq km, while Leichhardt has about the same area as the City of Sydney and Parramatta. The northern beaches council has fewer residents per square kilometre, so if residents have worse outcomes on average, they will score lower. As for Potts Point, Byrne said its residents had strong links with the community. “We’ve got three or four schools in the area and we’ve got three high schools and two public [schools],” he said. “That really gives a sense of community and that sense of belonging and helping each other out.” Potts Point locals are also proud of their area. “If you talk to locals here, if there’s a positive they’ll talk to you about it, they’re not afraid to talk about it,” Byrne said. He said the community was also proud of its diversity, something many councils and NSW leaders are aiming for. For Byrne, that diversity is what makes Potts Point special. “You need that type of diversity to have an effective society, to have a thriving city,” he said.