The race for space

Monday 28 May 2012

Apartment and housing growth centres are the key to solving Sydney's growing pains.

At a time when Sydney's housing crisis is worsening, hitting a supply shortfall of about 12,000 to 15,000 a year, hope is finally being provided by three new housing growth hot spots.

In the inner south, a wide range of medium- and high-density developments are under construction and being sold off the plan around Waterloo, Zetland, Alexandria, Rosebery and the latest hot spot, Botany, with its proximity to both the airport and the city. Another 2500 dwellings are due to be given the go-ahead in Green Square towards the end of the year.

Further out, at the state government-designated Growth Centres in the north-west and south-west, more land is being freed up for residential development, with buyers eager to snap up new houses set in greenfield sites for an average, in the latter, of just $450,000.

Apartment and housing growth centres are the key to solving Sydney's growing pains.

At a time when Sydney's housing crisis is worsening, hitting a supply shortfall of about 12,000 to 15,000 a year, hope is finally being provided by three new housing growth hot spots.

In the inner south, a wide range of medium- and high-density developments are under construction and being sold off the plan around Waterloo, Zetland, Alexandria, Rosebery and the latest hot spot, Botany, with its proximity to both the airport and the city. Another 2500 dwellings are due to be given the go-ahead in Green Square towards the end of the year.

Further out, at the state government-designated Growth Centres in the north-west and south-west, more land is being freed up for residential development, with buyers eager to snap up new houses set in greenfield sites for an average, in the latter, of just $450,000.

 

Read more http://smh.domain.com.au/real-estate-news/the-race-for-space-20120525-1z8fd.html

- Susan Wellings