Sydney to grow by a million people

[Ross]

How much lower can the vacancy rate in Sydney go ??????

http://www.smh.com.au/news/national/city-to-grow-by-a-million-people/2008/06/01/1212258647599.html

 

[peastman]

Prices staying stagnant or falling for past 5 years, rents rising, interest rates now stabilising, population growing, critical housing shortage. When the boom happens I think it may be big. Interesting times.

 

[FelixL]

Either that more people will leave sydney and head to the likes of Brisbane and Melbourne, thus reducing rental demand. Or property price finally rises to a point where more developers are attracted back into the market, thus increasing the rental supply

 

[topcropper]

Only a property investor could see any good come from cramming another million people into Sydney.

I will predict prime rural and coastal residential property and especially acreage to continue to be a good investment as the cashed up city people get out of the 'rat race'. My little area is certainly benefiting.


You must all remember, as I've never lived in Sydney, I don't quite get what the attraction is.

See ya's.

 

[evand]

TC,

Is that a round about, country way of dumping on the place?

You should try it sometime, might change your opinion mate.

You must all remember, as I've never lived in Sydney, I don't quite get what the attraction is.

 

[Shadow]

Topic is also being discussed on GHPC...

 

[topcropper]

Evand,...

Yeah, I just have trouble imagining a million more people in Sydney. I suppose it's because I have so much trouble with the traffic, yet I can go to Brisbane or Melbourne or the Gold Coast and not have any trouble. If you grew up there I suppose your used to it.

Also, remember I have strong views about over population and I've never made a secret of that. I don't believe Australia should be a dumping ground for people from other countries who can't for some reason or other control their own populations when the consequences regarding the environment and food supply are so obvious.

See ya's.

 

[DavidMc]

You must all remember, as I've never lived in Sydney, I don't quite get what the attraction is.

It's a nice enough place, but I never understood why it should be significantly more desirable than say Melbourne or Brisbane (based on it's price premium).

Maybe the rest of the country/world is realising this also?

 

[evand]

I've travelled a lot (OS & Australia) and Sydney is the only Australian city that could be classified as an international city.

Therefore it has the same problems as most international cities. Traffic, pollution, crime etc.

But why do people from outside of Sydney concentrate only on the negatives.
There are so many positive aspects to living in a city like Sydney it's not funny.

If you guys were right, places like Manhattan would be empty.

I couldn't live in the country, i'd die of boredom in about....oh.....30 minutes.

 

[FelixL]

City with huge population has its negatives, but it also comes with massive economic of scale, you can cheaper goods, more variety, more career choices and a whole lot more.

I love sydney, it still has the good qualities of australia (relaxed lifestyle, stable government, nice weather and beautiful scenary) and the vibrancy of a big cosmopolitan city.

 

[MichaelW]

Either that more people will leave sydney and head to the likes of Brisbane and Melbourne, thus reducing rental demand. Or property price finally rises to a point where more developers are attracted back into the market, thus increasing the rental supply

Count me in the latter group!

I've decided to start moving again on my Mona Vale development. Yields are rising rapidly on the Northern Beaches as are the prices being realised for the sort of thing I am developing. There's a lot of cashed up baby boomers looking for that perfect retirement house that is low maintenance but close to everything so they don't have to compromise on their lifestyle in retirement. Interest rates seem to be a secondary concern to this group, or at least to the ones who can afford the $1M price tags for the quality places on the Northern Beaches.

Exciting times!!

Cheers,
Michael.