Sydney built more than 30,000 multi-unit homes last year. That new supply has meant falling rents in most of the city.
Sydney is quickly building apartments to rent. "The number of flats listed on real estate websites to rent has more than tripled in 15 postcodes, including around Gordon, Miranda, Botany, Sutherland and Homebush," Nigel Gladstone reports for the Sydney Morning Herald. That new supply has led to falling rents in many parts of the city, some areas have seen rent fall 100 dollars (Australian) every month.
After more than a decade of a rental market defined by tight supply, things are changing in the city. "Sydney is in the grip of an apartment building boom, with 30,880 multi-unit dwellings built last year, a record for any Australian city," Nigel reports. This unprecedented shift has given many renters power they didn’t previously enjoy. While some neighborhoods in the city have seen rents continue to rise, even in this climate, most neighborhoods saw at least modest decreases in rent. Vacancies and ads sales for apartment listings are up.
FULL STORY: Apartment oversupply puts squeeze on rents
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Planetizen Federal Action Tracker
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Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
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Wildlife Rebounds After the Eaton Fire
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LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Central Transportation Planning Staff/Boston Region MPO
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