A report in last week’s Domain revealed that while rents in Sydney’s West are barely moving, in the Eastern Suburbs they’re getting out of control.

A two-bedroom apartment in Penrith, with car space could cost you $300 a week less than the equivalent (without views) in Rushcutters Bay or Alexandria.  The reason, of course, is the latter’s proximity to the city.  But is it really worth it?

That $300 a week adds up to $15,600 a year – for that you could buy a brand new hatchback. So why are people so desperate to pay the big bucks?

Well, there are hidden costs attached to living in the ‘burbs. That commute could take two hours a day – that’s worth about $60, based on the average wage.  And, if you value your time as much as your employer does, there’s your $300 a week difference.

OK, rail travel is incredibly cheap (whatever anyone says) and you can always work on a laptop or iPad or even just read a book or newspaper.

But grabbing a coffee on your walk home from work, or cycling, or window shopping along the way, rather than being crammed in a train or stuck in a traffic jam is, to some, priceless.