WITH SYDNEY running out of land … it would appear we need a Federal Government that will intervene to stop the sell-off overseas of Australian housing … and this could readily be remedied by enforcing the Anti-money Laundering Rules for the Real Estate Gatekeepers known as the Second Tranche!
IF this was not so … why do you suppose the Scomo Government exempted the Real Estate Sector in October 2018?
NOTE … the Berejiklian Govt will introduce the Medium-Density Housing Code in July 2019 however
big Developers want more … storey upon storey they make a motza!
WHEN voting on or before 18 May 2019 … to lessen the impact of overdevelopment in NSW put the LNP Coalition and those that preference them last … i.e. the UAP and PHON!
The end of the backyard! How a booming population is fuelling an explosion of apartment towers across Sydney – with the city expected to run out of land within a DECADE
- Stockland chief Mark Steinert predicted Sydney will run out of land for housing
- He told business lunch Australia’s biggest city would hit this point in 10-15 years
- Heavy construction underway in south-west and outer north-western outskirts
- Former NSW premier Bob Carr said the Sydney backyard will ‘vanish inevitably’
- Griffith University’s Tony Matthews said families forced to live long way from city
SYDNEY could run out of land for new housing within a decade because of its burgeoning population.
Apartment towers and master-planned houses are mushrooming up to 60km from central Sydney, with heavy construction underway in the the city’s south-west and north-western outskirts.
Former farmland on the edge of Sydney is being consumed by new housing projects, as the city continues to expand towards the city basin limits.
Australia’s biggest city could run out of land for new housing within a decade because of a population boom (pictured is Oran Park in Sydney’s outer south-west)
In just a decade, the population of the Camden local government area ballooned by 58 per cent, surging from 49,645 in 2006 to 78,218, Australian Bureau of Statistics Census figures show.
That rate of growth was more than triple that of greater Sydney – at 17 per cent – over the same period, as the population climbed to 4.8million, fuelled by high levels of immigration.
CAAN: Now more than 5 million people in Greater Sydney
In Sydney’s south-western outskirts Oran Park, a former car race track, mushroomed from less than 200 people in 2011 to 4,765 people five years later.
In another part of Sydney, the opening of the Metro Northwest railway line is also underpinning apartment construction near the Rouse Hill station, almost 50km from the city.
Nearby, West Schofields is expected to house another 45,000 people between 2021 and 2031, the New South Wales Department of Planning and Environment projected.
Mark Steinert, the chief executive of residential building group Stockland, this week predicted Sydney could run out of land for new housing within a decade.
Hemmed in by the Blue Mountains to the west and national parks to the north and south, there was little room for further expansion.
Apartment towers and master-planned houses (Oran Park pictured) are mushrooming up to 60km from central Sydney, with heavy construction underway in the the city’s south-west and north-western outskirts
- Former farmland (Narellan pictured) on the edge of Sydney is making way for new housing projects, as the city continues to expand towards the city basin limits
‘There’s very little housing land left in Sydney, in fact we’ll be out of housing land in 10 to 15 years,’ Mr Steinert told the Committee for Economic Development of Australia luncheon.
Former New South Wales Labor premier Bob Carr said high population growth in Sydney would unavoidably lead to high-density housing, killing off the backyard.
Stockland chief executive Mark Steinert: ‘We’ll be out of housing land in 10 to 15 years’
‘What has been Australian life will vanish inevitably,’ he told Daily Mail Australia.
‘You cannot ramp up the population of the Sydney basin with the highest level of immigration of any developed country – in proportion to the existing population – without forcing the city to go up in increased densities.
‘We are now looking at the last land available for broad-acre subdivision and development.
‘We were never going to be able to sprawl forever.’
- Former New South Wales Labor premier Bob Carr said high population growth in Sydney would eventually kill off the backyard
Australia’s population surpassed the 25million mark in August 2018, 22 years earlier than predicted in the federal government’s first inter-generational report of 2002.
The 1.6 per cent population growth pace is also more than double the rich-world average of 0.7 per cent.
*Mr Carr served as foreign minister in 2012 and 2013, as Australia’s annual net immigration level surged above 200,000 for the first time, when Julia Gillard was prime minister.
‘There was no discussion in cabinet on immigration levels,’ he said.
CAAN: We recall in the Howard term in the late 1990s there were as many as 300,000 permanent migrants p.a. as this Government scapegoated refugees!
Carr: ‘They continued to be pumped up but there was no opportunity to have a broad debate on migration and population.’
*Since the late 1990s, backyard sizes in new Sydney houses have shrunk from 700 square metres to just 400 square metres, in places like Oran Park in the Camden Council area.
CAAN: This happens to coincide with when in the late 1990s in the Howard Government the middle class Chinese were given ‘flexible citizenship’ when they purchased our real estate or education! Following which there was a housing boom and prices escalated between 2001 and 2004. Visa manipulation has since become a Growth Industry!
Dr Tony Matthews, a senior lecturer in urban and environmental planning with Griffith University, said backyards had shrunk from 700 square metres to just 400 square metres (new house at Oran Park pictured)
Sydney’s median house price has fallen by 16.1 per cent since peaking in July 2017.
But at $880,369, detached homes with a backyard are still more than 10 times an average full-time salary of $83,500, which is forcing couples with children to move to an outer suburb.
How backyards are shrinking or disappearing
*Griffith University senior lecturer in urban and environmental planning Tony Matthews said backyards, during the past two decades, had shrunk from 700 square metres to just 400 square metres.
Tony Matthews: ‘We’re running out of greenfield land’
The traditional ‘quarter acre block’ backyard was becoming rarer as houses grew larger and in many cases, land sizes became smaller.
*The building footprint fills up a considerable portion of the block, maybe as much as 90 per cent,’ Dr Matthews told Daily Mail Australia.
High land costs were also encouraging developers to fit in more master-planned housesto get higher yields.
‘The cost of land is so high developers or master planning development companies need to get a yield that will allow them to make sufficient profit to go ahead with the actual development,’ Dr Matthews said.
The lack of new land in Sydney was also contributing to smaller backyards and more apartment towers.
‘We are basically running out of greenfield land,’ he said.
‘Within our existing urban areas and our existing suburban areas, and even our existing outer-suburban areas, what has been a planning priority over the last 20 years is to try and curtail sprawl development, particularly at the edge of the cities.
‘That’s also why we’ve seen so much high-rise development.’
Dr Tony Matthews, a senior lecturer in urban and environmental planning with Griffith University, said many parents were moving to small blocks 60km from the city to find somewhere affordable with a vague semblance of a backyard.
‘Their priorities shift when they have children and they starting thinking about, “You know what, I’d really rather raise my children in a more conventional house“,’ he told Daily Mail Australia.
‘They’re prepared to sacrifice their backyard or a large backyard.
‘There has been a long history of reluctance to equate family living with apartments in Australia.’
CAAN: Perhaps that is because it is not that far back … it is in living memory … that most people had a cottage and a backyard … it has only been since the instigation by the property sector that Australian real estate has been flogged off overseas that our land is being devoured!
The excessive commute times in Sydney were also creating ‘socially detrimental consequences’.
‘You’ve just got less time with your kids or one parent has less time with their kids,’ Dr Matthews said.
‘Children end up often being not just in daycare but long daycare so they might be there from 6am to 6pm, which isn’t necessarily optimal for them for their social development.
‘The amount of time that you spend commuting is almost directly proportional to the amount of time that you are likely to engage with your community and participate in things like voluntary activities.’
Camden Liberal councillor Peter Sidgreaves, who until recently was mayor, said population growth was a problem in his area.
‘I have to say that the traffic congestion is getting worse,’ he told Daily Mail Australia.
An influx of new immigrants – from India, Afghanistan, Bangladesh and Nepal – were moving into the area, 65km from Sydney’s city centre.
‘Yes, that’s certainly a major change to Camden and that’s something as a community we’re dealing with,’ Mr Sidgreaves said.
At this stage, Mr Sidgreaves said Camden’s population increase was fuelling more demand for house and land packages than apartments.
‘There have been a lot of residential developments and that has been happening in the south-west growth centre precinct,’ he said.
Late this week Dartwest Developments, the group behind the new Narellan Town Centre, lodged a council application to knock down 11 houses to build a new four-storey apartment complex along Somerset Avenue.
Whether they sell for a good price is another matter, with New South Wales already home to almost half of Australia’s apartments.
House prices in Sydney reported to take a tumble
While younger people may prefer apartments (Sydney Olympic Park pictured), Dr Matthews said parents with young children were preferring to live in house, even a long way from the city
Tim Lawless, the head of research with real estate data group CoreLogic, said younger people were preferring to live in apartments closer to the city instead of houses a long way from work.
‘We are seeing a gradual shift towards medium to high-density preferences,’ he said.
CAAN: It would seem a whole cohort ofyoung Australians have been priced out of both house and land packages and apartments to buy having to rent! It would appear the competition from the high overseas influx has had something to do with the consequences? And black money continues to be awash in Australian Real Estate with the Scomo Government having exempted the Real Estate Sector from Anti-money Laundering Rules as recently as October 2018!
1881: 2.3 million
1918: 5 million
1959: 10 million
1981: 15 million
1991: 17.4 million
2004: 20 million
2013: 23 million
2016: 24 million
2018: 25 million
Sources: Australian Bureau of Statistics; House of Representatives Standing Committee for Long-Term Strategies, December 1994
‘Those people look to, say, sacrifice the Hills Hoist in their backyard and live close to the city where they can perhaps live in medium to high-density but also be much closer to where they work, closer maybe to transport connections, social opportunities, perhaps where their parents live.’
*At the Committee for Economic Development of Australia luncheon, in Sydney’s Shangri-La Hotel overlooking The Rocks, the Property Council of Australia’s group executive of policy and advocacy Mike Zorbas slammed Mr Carr’s suggestion as premier that Sydney was full.
CAAN: Heaven forbid a look at the reality that the Property Sector ‘Nirvana’ might be coming to an end!! Heaven forbid a reality check!
Mr Carr said big business and federal Treasury economists were wedded to ‘remorseless population growth as the underpinning of our economy’.
‘It is the orthodoxy that links business and the Canberra bureaucrats,‘ he said.
He said Mr Steinert’s prediction of land running out in Sydney ‘confirms the warnings I’ve been making for over 20 years about the “more the merrier” ideology’.
‘The inevitable depletion of the land supply mandates a basin filling with towers.’
CAAN: Does it? It would appear we need a government that intervenes to stop the sell-off overseas of Australian housing – which can be quickly remedied by enforcing the Anti-Money Laundering Legislation for the Real Estate Gatekeepers known as the Second Tranche! That will fix the problem overnight!
If this was not so … Why do you suppose the Scomo Government exempted the Real Estate Sector in October 2018?
WHEN VOTING ON OR BEFORE 18 MAY 2019 IT IS OBVIOUS … PUT THE LNP COALITION AND THOSE THAT PREFERENCE THEM LAST … I.E. UAP AND PHON!