Home Construction in Sydney To Remain Steady
Phil McCarroll writes a piece for the online edition of Your Investment Property wherein he asserts that there may not be any change in the level of construction activity over 2015-2017 in Sydney. By the end of 2017, 61,000 new units are expected to come into existence.
Total number of homes expected by 2017
However, real estate experts JLL suggest that based on the pace at which houses are constructed, we may get close to 46,500 homes completed by 2017. Between 2012 and 2014, 44,500 new units were built. That means we might be in for an ascension of 4.5%
For the multi-unit dwellings, there should not be any shortage of supply in the near future and the new apartment supply will remain abreast with demand, at least until the last phase of 2016.
Greater Sydney Metropolitan
Buoyed by prevailing and upcoming transport projects, the Greater Sydney Metropolitan is likely to become a more prominent player in the Harbour City’s real estate.
You can read the original article here.
Consumers buoyant about Sydney
Sydney’s golden property phase has stuck for some time now and investors are convinced that it isn’t some fluke, fad-guided, blink-and-you’ll-miss it phenomenon. Buoyant consumer sentiment has pushed Sydney’s fortunes to newer heights and this very same trend has been reflected by the construction industry, too.
Opportunity for capital growth
Sensing capital growth, the investors have rallied strongly and this is likely to keep demand high. Naturally, what will be directly influenced is home construction. I just hope we can get clear passage ahead, and that roadblocks like undue protocols and red tape become a thing of the past.
Population explosion leading to infusion of skilled workforce
Population explosion has led to mass migration towards Sydney and this has led to the infusion of skilled workforce. Now if the labour industry works in tandem with the construction industry, we may be in for more good times ahead. With that dream in mind, I am ready to bypass the crux question of affordability which is rearing its ugly head and making quite a number of middle-range income earners look beyond Sydney for their first/next home.
