Sydney heading for a ‘50-50’ housing market

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Sydney is expected to become half apartments and half suburban houses in the next four decades, as new data from the Australian Bureau of Statistics (ABS) show a strong apartment boom in the area.
 
As of 2011, 25.8% of the 1,660,000 homes across Sydney were urban apartments, and recent ABS data shows 70% of the housing approvals were granted to apartments.
 
“As couples begin having families they may move from apartments to houses, but then as kids move out and retirement looms, the same couple may move back to the urban apartment,” says Chris Johnson, chief executive of the Urban Taskforce.
 
“The suburbs will always take up most of Sydney's land and even when apartment numbers equal house numbers the land split will probably be 80% for houses and 20% for apartments.”
 
A separate ABS study also stated that Sydney’s density is leading the country, with a measurement of 8,000 people per square kilometre.
 
“In outlining two different characters of Sydney, I am not saying one is right and one is wrong. Both can, and will, coexist. People may move from one model to the other,” he added. 
 

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