Developers planning to flock back to NSW

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A change of government next week could bring property developers flooding back to NSW.

A report in the Australian suggests that a number of residential developers are putting plans in place to return to NSW. Among the developers looking to return to the state are Stockland, which recently purchased 40ha in Maitland for $22m, Devine and Lang Walker. The Goodman Group is also rezoning parcels of Sydney industrial land for development.

According to the Metropolitan Plan for Sydney, 770,000 extra homes are needed in the city by 2036. A number of lobby groups have called for the next government to prioritise the supply of housing in urban areas and city fringe.

 

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