The solution to Sydney’s housing problems lies in a “polycentric” city, according to a report from the McKellin institute.
“With a dominant CBD sucking in a massive amount of commuters to what in comparative terms is a constrained location doesn’t just bring congestion problems… It also helps drive up home prices around this economic hotspot because there is a premium in housing close to CBDs,” the Homes For All report reads.
The report claims that transport infrastructure development is wasted on the CBD.
“It also attracts public transport investment for journeys to the CBD rather than opening up other areas with additional economic capacity.”
The report claims polycentric Sydney needs to be realised to increase the effective job density and for the good of those needing homes.
“We need policies to densify established areas and suburbs but we also need to recognise that having our capital city’s sole CBD on its eastern edge, leaving a commute of 30-70 kilometres for Western Sydney inhabitants, distorts the housing market.”
The issue of rising office rental costs was also raised, saying it’s an area that requires some attention.
“It doesn’t just add to the cost of Sydney’s office rents, which are already twice that of Melbourne’s, with its bigger floor-plate for office accommodation and more open approach to development.”
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