The State Government has recently released figures predicting that an additional 600,000 homes will be needed in the next 20 years to accommodate an additional 1.6 million people. BY 2031 the state’s population is expected to reach 9.2 million (up from the current 7.2 million). The majority of this growth will be in Sydney.
The most common form of housing that will be required is for 1 and 2 bedroom apartments accommodating single-person households.
These growth rates will create increasing pressure on the State’s planning legislation. Developers will likely increase their lobbying for simplified (read de-regulated) planning laws. More low-rise areas are likely to be affected with the growing demand for higher density dwellings.