Sydney’s housing shortfall to double in three years

By |

Sydney could be facing a housing shortfall to the tune of 80,000 homes by 2014, says the Urban Taskforce.

Commenting on the New South Wales’ “plummeting” rate of building approvals, Urban Taskforce chief executive Aaron Gadiel estimated that Sydney’s current housing undersupply has reached 46,000 homes – up from 36,000 in 2009.

"New South Wales' private sector home approval rate is plummeting at more than three times the national rate,” said Gadiel.

"We've now seen three straight months of data, where the NSW private sector home approvals have trended down by more than 4% a month,” he added. "Since March, that's added up to a 12.6% decline in new private sector home approvals.”

New South Wales’ figures are especially of concern when compared to those of other states, noted Gadiel.

Over the same three-month period, the decline in new private sector home approvals in Victoria was less than half of New South Wales’ figure at 5.6%, while Western Australia’s decline was 3.2% for example.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Top Suburbs : lalor park , canterbury , upper kedron , spearwood , artarmon

go back

Get help financing your investment

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here