State of Markets - NSW July 2012

By Staff Reporter

Essential information, plus expert insight on what is shaping the national property market... 


NSW houses have 90,000 shortfall

At least 90,000 NSW houses need to be built, and quickly, according to a report by the Urban Development Institute of Australia.

A chronic undersupply was highlighted in the Mckell Institute’s report earlier this month and a lack of dwellings is seen as the reason why Sydney rental and house prices are some of the highest in the world.

“Recent studies have indicated that Australia – and Sydney in particular – has one of the least affordable housing markets in the world,” the report said.

“It is estimated that by 2020, New South Wales will have a housing shortage of almost 190,000 homes and Sydney’s housing costs are now higher than London and New York.”

Land has been identified for development of 90,000 homes, much of it lying to the west of CampbelltownCampbelltown, NSW Campbelltown, SA.

Rental yields rising in pockets of Sydney

Despite an uncertain market, rental yields have been rising steadily for one and two bedroom units in several areas of Sydney.

Campbelltown, FairfieldFairfield, NSW Fairfield, VIC Fairfield, QLD, Liverpool, MaitlandMaitland, SA Maitland, NSW and CanterburyCanterbury, NSW Canterbury, VIC rents for one and two bedroom apartments were found to have grown the fastest in the Sydney greater metropolitan region since 2006, according to PRDnationwide.

Research analyst for PRDnationwide, Oded Reuveni-Etzioni, explained that those profiting from this increase are investors who had already done their research thoroughly.

“Savvy investors are attuned to the changing preferences of renters and recognise the growing rental markets in the middle and outer suburbs of the metropolitan area,” Mr Reuveni-Etzioni said.

“Investment opportunities also exist in areas outside the metropolitan area, where strong demand and limited supply of units maintains the pressure on rent prices,” he added.

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%
State of Markets - NSW July 2012
SPI logo